Adidas names CEO of rival Puma as new boss

Adidas names CEO of rival Puma as new boss

Adidas has been battling fallout from coronavirus restrictions in key market China and also cut ties with controversial rapper Kanye West
Adidas has been battling fallout from coronavirus restrictions in key market China and also cut ties with controversial rapper Kanye West. Photo: CHRISTOF STACHE / AFP/File
Source: AFP

Adidas on Tuesday named Bjorn Gulden, chief of rival outfitter Puma, as its new CEO as the German sportswear giant seeks to emerge from months of turbulence.

Gulden, a Norwegian former professional football and handball player, will take on the role from January next year, replacing current CEO Kasper Rorsted, Adidas said.

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".

Adidas has faced months of turmoil which have hit sales. The company lowered its outlook for 2022 in July due in part to continuing severe coronavirus restrictions in key market China.

The group also cut ties with Kanye West at the end of October after a series of anti-Semitic tweets by the rapper caused an outcry.

Read also

UAE, Egypt ink major wind energy deal on COP27 sidelines

PAY ATTENTION: Join Legit.ng Telegram channel! Never miss important updates!

Adidas ended production of the highly successful "Yeezy" line designed together with West, a move that would slash the company's net income in 2022 by "up to 250 million euros ($246 million)".

Both Adidas and Puma are based in the Bavarian town of Herzogenaurach, close to Nuremberg.

The twin companies were founded by two brothers. Adolf Dassler began Adidas before his brother, Rudolf, with whom he had a fierce rivalry, established Puma.

Source: AFP

Authors:
AFP avatar

AFP AFP text, photo, graphic, audio or video material shall not be published, broadcast, rewritten for broadcast or publication or redistributed directly or indirectly in any medium. AFP news material may not be stored in whole or in part in a computer or otherwise except for personal and non-commercial use. AFP will not be held liable for any delays, inaccuracies, errors or omissions in any AFP news material or in transmission or delivery of all or any part thereof or for any damages whatsoever. As a newswire service, AFP does not obtain releases from subjects, individuals, groups or entities contained in its photographs, videos, graphics or quoted in its texts. Further, no clearance is obtained from the owners of any trademarks or copyrighted materials whose marks and materials are included in AFP material. Therefore you will be solely responsible for obtaining any and all necessary releases from whatever individuals and/or entities necessary for any uses of AFP material.