Adidas CEO Kasper Rorsted To Step Down In 2023
2023 will see a new CEO for Adidas after emerging from the Covid-19 lockdown and its subsequent impact on the firm.
In a public statement, the firm said, “The Current CEO Kasper Rorsted will remain in post until a successor has been appointed to help to ensure a smooth transition at the helm of the company. “
Thomas Rabe, Chairman, Adidas supervisory board said in a public statement, “After three challenging years that were marked by the economic consequences of the Covid-19 pandemic and geopolitical tensions, it is now the right time to initiate a CEO transition and pave the way for a restart."
The company’s public statement mentioned how this new transition was something mutually agreed upon.
Rorsted added, “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."
Due to the sudden drop in double digits of the Chinese sales, Adidas had cut its 2022 outlook in July. The firm says that its adjusted guidance "also accounts for a potential slowdown of consumer spending in (other) markets during the second half of the year as a result of the more challenging macroeconomic conditions".
The firm is all set to record net profit at 1.3 billion euros ($1.3 billion) as against its previous forecast of it being between 1.8 and 1.9 billion euro.
