Kasper rørsted

Kasper Rorsted will hand over CEO position during the course of 2023; Supervisory Board thanks Kasper Rorsted for major achievements in transforming the ...

After three challenging years that were marked by the economic consequences of the COVID-19-pandemic and geo-political tensions, it is now the right time to initiate a CEO transition and pave the way for a restart. Kasper Rorsted, CEO of adidas, and the Supervisory Board have mutually agreed upon that Kasper Rorsted will hand over the CEO position during the course of 2023. Jointly with the Supervisory Board and the Management Board he will ensure a smooth transition at the helm of the company.

Adidas AG shares edged lower Monday after the sports apparel group, and global Nike rival, said CEO Kasper Rorsted will depart the company next year.

"In North America, the world’s largest sporting goods market, adidas has doubled its sales," Rabe added. North America revenues were down 5%, but direct-to-consumer sales were up 7%, helping offset both the impact of a stronger U.S. "Under Kasper’s leadership adidas has substantially advanced its digital capabilities and grown its online sales by a factor of more than five." Rorsted, who was lead the group since 2016, will remain CEO until a successor has been named, Adidas said, with a handover of leadership roles expected in early 2023. Gross profit margins narrowed 80 basis points to 45%, just shy of Street estimates of 46.6%, as input and transportation costs surged. During his tenure since 2016 he has strategically repositioned the company and fast-forwarded its digital transformation," said Thomas Rabe, who chairs the supervisory board of Adidas.

'The past years have been marked by several external factors that disrupted our business significantly,' said Rorsted, who has been in the role since 2016.

In a statement about Rorsted’s departure, supervisory board chairman Thomas Rabe cited “three challenging years that were marked by the economic consequences of the COVID-19 pandemic and geopolitical tensions,” and added that the time is right to “pave the way for a restart.” In a surprise announcement Monday, the German sporting-goods and footwear brand said Rorsted and the company’s supervisory board have agreed that he will “hand over the CEO position during the course of 2023.” A search for his successor is already underway, and Rorsted is expected to stay on until his replacement is found and appointed, the statement said. [supply-chain and geopolitical challenges](https://www.fastcompany.com/90622089/a-geopolitical-crisis-cripples-hm-nike-adidas-and-visa-could-be-next) since the start of the pandemic.

During his tenure, more women joined the company's leadership ranks, as it strengthened its efforts in sustainability and diversity, equity and inclusion, Rabe ...

“Its collaborations with Gucci and Wales Bonner are a step in the right direction, but the premium price points only appeal to a small percentage of its consumers, particularly as inflation bites.” “As a company, we have achieved great progress in strategic areas of our business. During his tenure, more women joined the company’s leadership ranks, as it strengthened its efforts in sustainability and diversity, equity and inclusion, Rabe said. I am proud of our achievements as a team,” he said. The brand appears to need that. Now, it’s shaking up its leadership.

The unexpected news follows weak second-quarter results and falling sales in China.

The company reported a small, 4 percent increase in revenues and a slower-than-expected recovery in [China](https://wwd.com/tag/china/). “After three challenging years that were marked by the economic consequences of the COVID-19 pandemic and geopolitical tensions, it is now the right time to initiate a CEO transition and pave the way for a restart. The company pledged a “smooth transition.”

Adidas has announced the unexpected departure of its CEO Kasper Rorsted. Rorsted and the Adidas AG Supervisory Board mutually agreed the Danish executive ...

The news comes as a surprise, since Adidas in 2020 extended Rorsted’s contract to 2026. It required huge efforts to master these challenges. “The past years have been marked by several external factors that disrupted our business significantly.

adidas CEO Kasper Rørsted Is Stepping Down in 2023: Under his direction, the German sportswear brand has struggled to maintain sales in Asian markets.

The focus for the Three Stripes moving forward will be to accelerate its growth in all of its markets without any significant disruptions. “After three challenging years that were marked by the economic consequences of the COVID-19 pandemic and geo-political tensions, it is now the right time to initiate a CEO transition and pave the way for a restart,” the company stated in its release announcing Rorsted’s leave. Plans to step down from leading the German sportswear imprint in 2023 are in place, and the brand is currently in search of finding a successor.

Adidas CEO Kasper Rorsted will step down next year, the sports apparel maker said Monday, and the company has started looking for a successor.

More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world.

Published: Aug. 22, 2022, 6:50 a.m.. Kasper Rorsted stands in front of an Adidas logo with arms crossed. Sports apparel maker Adidas said ...

Rabe said the firm can now focus on its core brand after divesting TaylorMade, Reebok and CCM Hockey. The company has its North American headquarters in Portland. “After three challenging years that were marked by the economic consequences of the COVID-19-pandemic and geopolitical tensions, it is now the right time to initiate a CEO transition and pave the way for a restart,” supervisory board chairman Thomas Rabe said in a statement.

Adidas unexpectedly said its CEO Kasper Rorsted would leave his post next year, before his contract is due to run out, and that it's started searching for a ...

Adidas had in 2020 extended his contract until July 31, 2026. The group said Rorsted and its supervisory board had mutually agreed that the CEO would hand over his position during the course of 2023. - Rorsted and its supervisory board had mutually agreed that the CEO would hand over his position during the course of 2023.