Adidas CEO Kasper Rorsted to step down next year

Adidas CEO, Kasper Rorsted will step down next year, the sports apparel maker. Rorsted, who has been CEO since 2016, and its supervisory board mutually agreed that he will hand over during the course of 2023. Rorsted’s departure was a mutual decision of the supervisory board and the CEO following confidential discussions. Besides the pandemic slump, Rorsted had to contend with criticism that the company had done too little to promote diversity.

Bank Maha Pack includes Live Batches, Test Series, Video Lectures & eBooks

During his tenure at Adidas, Rorsted presided over a steady increase in the stock, valuing the company at more than 67 billion euros around this time just last year. Since then, the stock has come back to levels similar to when he took over in 2016. By contrast, Nike and Puma shares have gained in the same period.

Important takeaways for all competitive exams:

Adidas Founder: Adolf Dassler;
Adidas Founded: 18 August 1949;
Adidas Headquarters: Herzogenaurach, Germany.

Find More Appointments Here

UNESCO's Intangible Cultural Heritage List: India nominated Garba_70.1

Sumit Arora

As a team lead and current affairs writer at Adda247, I am responsible for researching and producing engaging, informative content designed to assist candidates in preparing for national and state-level competitive government exams. I specialize in crafting insightful articles that keep aspirants updated on the latest trends and developments in current affairs. With a strong emphasis on educational excellence, my goal is to equip readers with the knowledge and confidence needed to excel in their exams. Through well-researched and thoughtfully written content, I strive to guide and support candidates on their journey to success.