adidas CEO Kasper Rorsted Is Set To Step Down in 2023

Kasper Rorsted is set to step down from his position as CEO of adidas in 2023 – a role he has held since 2016. The announcement came as a surprise to many, as Rorsted had actually signed a five-year contract extension back in 2020, but according to a statement by the brand, the decision was mutual.

In the statement, the supervisory board thanked Rorsted for his hard work and noted that he would remain at the brand’s helm until a new successor was appointed, in order to ensure a smooth transition. The board praised Rørsted’s efforts in “fast-forwarding adidas’ digital transition” but cited that the “three challenging years” marked by an economic crisis, COVID- 19 and geopolitical tension, made it “the right time to initiate a CEO transition and pave the way for a restart.”

In the same statement, Rorsted himself said: “The past years have been marked by several external factors that disrupted our business significantly. It required huge efforts to master these challenges. This is why enabling a restart in 2023 is the right thing to do - both for the company and me personally.”

The search for the next adidas CEO is currently underway and the brand will be looking to ensure growth in all markets, hopefully without the disruptions that have plagued the past few years. In the meantime, be sure to keep it locked to The Sole Supplier for more on how this develops.

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