adidas CEO Kasper Rorsted to Exit in 2023

adidas have announced that chief executive officer, Kasper Rorsted will be making a departure from the company, effective in 2023. Rorsted has been at the helm since 2016 and in 2020 had his contract extended, which would have seen him carry out the role until July 31, 2026, as reported by euro news.

Considered a surprise exit by many in the industry, Rorsted noted that the past few years 'have been marked by several external factors that disrupted our business significantly'. He added, 'This is why enabling a restart in 2023 is the right thing to do — both for the company and me personally.'

adidas supervisory board chairman, Thomas Rabe has also issued a statement on this major update. He said, '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.'

'We would like to thank Kasper for his major achievements,' Rabe continued. 'During his tenure since 2016 he has strategically repositioned the company and fast-forwarded its digital transformation. Under Kasper’s leadership adidas has substantially advanced its digital capabilities and grown its online sales by a factor of more than five.'

Further according to euro news, Rorsted's departure from the company was on mutually agreed terms. He is to remain in the role come next year, until a successor has been selected.

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