Adidas Confirms Kasper Rorsted to Succeed Herbert Hainer as CEO
- 8 years ago
Adidas AG appointed Kasper Rorsted as chief executive officer to succeed Herbert Hainer, recruiting the head of Dial soap maker Henkel AG & Co. to restore growth to the German sportswear company.
“This is a significant positive for Adidas and the investment case,” Graham Renwick, an analyst at Exane BNP Paribas, said in a note, describing Rorsted as “a perfect fit.”
Rorsted faces a tough task to revive growth at Adidas, which has been losing ground to industry leader Nike Inc., as well as newer competitors like Under Armour Inc.
The company, which has been under Hainer’s leadership since 2001, is trying to stay relevant as Nike makes inroads in Europe while Adidas’s U.S. business falters.
“This is a significant positive for Adidas and the investment case,” Graham Renwick, an analyst at Exane BNP Paribas, said in a note, describing Rorsted as “a perfect fit.”
Rorsted faces a tough task to revive growth at Adidas, which has been losing ground to industry leader Nike Inc., as well as newer competitors like Under Armour Inc.
The company, which has been under Hainer’s leadership since 2001, is trying to stay relevant as Nike makes inroads in Europe while Adidas’s U.S. business falters.