German sportswear group Adidas has extended the appointment of CEO Kasper Rorsted by another five years.
Rorsted, who has been a member of the Adidas executive board since August 2016 and CEO since October 2016, will continue his tenure until 31 July 2026.
“Kasper Rorsted has driven the implementation of our long-term strategy Creating the New with great energy and success,” says Igor Landau, chairman of the supervisory board. “He clearly left his mark focusing the company on sustainable growth and increasing its profitability.
“The outbreak of the corona pandemic posed major challenges even for a successful company such as Adidas. The management team under the leadership of Kasper Rorsted succeeded in steering Adidas and its employees healthily and safely through this unprecedented crisis. Continuity and strong leadership are important especially in these times, also in view of the new strategic cycle which will start in 2021.”
Adidas said in June that it expects second-quarter sales in Greater China to be around the prior-year level after revenue returned to growth earlier than expected in the region.