Closed shops, week-long lockdowns around the world, supply chain problems and rising costs - the list of challenges in the third year of the corona pandemic is long.
Apparently it was too long for Adidas CEO Kasper Rorsted.
The sporting goods manufacturer and the Danish manager, who had previously made a name for himself at consumer goods manufacturer Henkel, will go their separate ways in the coming year.
Explicit reasons are not given for the personnel.
But the manager had not got the important China business under control.
In addition, investors complained that competitors such as Nike and Puma have done better.
The Adidas share increasingly lost ground on the stock exchange.
Regardless, Rorsted is considered a number-driven optimizer, which was the right approach for Adidas for many years.
But for the brand with the three stripes, which thrives on experience and passion for sport, it needs more than that in the long run. Apparently, Rorsted was no longer the right man for it.
The new group management, which is now being sought, needs both: an eye on the costs – but also on the brand.