Thav TV

In a bid to rise above recent trails after the current crisis surrounding its partnership with rapper Kanye West, now known as Ye, Adidas AG has appointed former Puma SE Chief Executive Officer Bjorn Gulden as its next CEO.

The appointment which was made public on Tuesday 8th November means that current chief Kasper Rorsted will step down Friday, which is earlier than expected.

The German sportswear company last week said Gulden was a potential successor to Rorsted after Puma announced its CEO’s departure.

Bloomberg reports that Adidas shares rose as much as 4.8% and were trading 2.2% higher as of 2 p.m. in Frankfurt. Even after a surge following news that Adidas and Gulden were speaking, the stock is down about 25% during Rorsted’s six-year tenure.

The 57-year-old “brings almost 30 years of experience in the sporting goods and footwear industry,” said Thomas Rabe, chairman of the supervisory board of Adidas.

“As CEO of Puma, he re-invigorated the brand and led the company to record results…Gulden will head Adidas into a new era of strength.”

Adding that Gulden “knows the industry extremely well and draws on a rich network in sport and retail”

The change in companies should in some respects be smooth for the new CEO. For one thing, Adidas’s headquarters is located just up the road from...

Click the link below to read full story.
https://thavmedia.com/adidas-ag-appoints-ex-puma-ceo-as-new-boss/