Adidas Says CEO Kasper Rorsted To Hand Over Position During Course Of 2023

RTTNews | 883 gün önce
Adidas Says CEO Kasper Rorsted To Hand Over Position During Course Of 2023

(RTTNews) - German sportswear maker Adidas AG (ADDYY.PK, ADDDF.PK) said Monday that its Supervisory Board announces today that it has initiated a CEO transition, with CEO Kasper Rorsted having mutually agreed with the Supervisory Board to hand over the CEO position during the course of 2023. The search for a succession has started.

Rorsted will remain CEO until a successor has been appointed and will ensure a smooth transition at the helm of the company. Rorsted has served as the CEO since 2016.

read more
Adidas Q4 Loss Narrows, Sees Weak Sales In North America; Stock Down

Adidas Q4 Loss Narrows, Sees Weak Sales In North America; Stock Down

German sportswear giant adidas AG Wednesday reported a narrower net loss in its fourth quarter amid weak revenues. In fiscal 2023, the company slipped to a loss, reportedly the first loss in 30 years, mainly reflecting Yeezy impact. Further, the company announced stable dividend, and said it sees improved operating profit and sales in fiscal 2024, while currency-neutral sales in North America...
RTTNews | 314 gün önce
Adidas Sued By Investors Over Kanye West's Yeezy Deal

Adidas Sued By Investors Over Kanye West's Yeezy Deal

Sportswear giant Adidas has been sued by investors over its now terminated partnership with Yeezy brand, owned by American designer and rapper Kanye West, reports said. West is not party to the lawsuit, which was filed over allegations that the German firm was aware of his problematic behaviour years before it ended their partnership. They also alleged that the company failed to limit financial...
RTTNews | 631 gün önce
Adidas To Withdraw Objection To Black Lives Matter Trademark

Adidas To Withdraw Objection To Black Lives Matter Trademark

German sportswear company Adidas AG said Wednesday it will withdraw its request to block the application by the Black Lives Matter movement to trademark a yellow three-stripe design similar to Adidas' branding. This move by Adidas comes just 48 hours after it had filed an objection to the U.S. Patent and Trademark Office against the use of the three parallel stripes design.
RTTNews | 664 gün önce
Adidas Slips To Q4 Loss, Cuts Dividend, Warns On FY23; Stock Down

Adidas Slips To Q4 Loss, Cuts Dividend, Warns On FY23; Stock Down

Shares of adidas AG were losing around 2 percent in the morning trading in Germany after the sports sneaker and apparel maker on Wednesday reported a loss in its fourth quarter, compared to last year's profit, hurt by charges mainly related to the termination of the Yeezy partnership. Further, the company trimmed its dividend, and said it projects an operating loss and weak sales in fiscal 2023.
RTTNews | 685 gün önce
Adidas Q3 Profit Down; Cuts FY22 Outlook

Adidas Q3 Profit Down; Cuts FY22 Outlook

German sports sneaker and apparel maker Adidas AG on Wednesday reported sharply lower profit in its third quarter, despite higher net sales. The company also trimmed its fiscal 2022 forecast, mainly reflecting the impact from the recent termination of adidas Yeezy partnership.
RTTNews | 804 gün önce
Adidas Ends Partnership With Ye Immediately; Stock Down

Adidas Ends Partnership With Ye Immediately; Stock Down

German sports sneaker and apparel maker Adidas AG announced Tuesday that it terminated its partnership with American rapper Kanye West, who now goes by the name Ye, with immediate effect, citing his recent offensive behaviour. Adidas expects the decision to result in a short-term negative impact of up to 250 million euros on its fiscal 2022 net income due to the high seasonality.
RTTNews | 819 gün önce
Adidas Plans To End Partnership With Kanye West: Report

Adidas Plans To End Partnership With Kanye West: Report

German sports sneaker and apparel maker Adidas AG plans to end its partnership with Kanye West citing recent offensive behaviour from the American rapper, Bloomberg News reported citing people familiar with the matter. Following the news, Adidas shares were losing around 4 percent in the morning trading in Germany.
RTTNews | 819 gün önce