Adidas on the lookout for new CEO

Adidas on the lookout for new CEO

Even though Herbert Hainer had categorically denied the rumour up till now, his Adidas reign seems to be nearly over. The group is looking for a new CEO, who will have to close the gap with its main competitor Nike.

Hainer will leave officially in 2017

Adidas has started its procedure to find a successor for CEO Herbert Hainer: a letter to its employees states that it "is intensely looking for candidates to succeed Herbert Hainer, both internally and externally". Hainer's term as CEO will officially end in 2017.

 

Only last month, Hainer had denied his position was up for grabs. The 60-year old has faced increased scrutiny from Adidas shareholders because he cannot close the gap with the number 1, American Nike. On the contrary, Hainer has lost ground ever since he took control of the German company in 2001. All in all, he has been in charge longer than any other CEO of a German listed company.

 

The news about his imminent departure resulted in positive changes on the Frankfurt stock exchange: Adidas's shares shot up nearly 5 %. Alongside his new 'global brand chief' Eric Liedtke and sales director Roland Auschel, Hainer will present a new 5-year plan on 26 March. The goal is to get to a 20 billion euro turnover by 2020, compared to 14.8 billion euro in 2014. Its full-year results will be presented early March.

Questions or comments? Please feel free to contact the editors


Small Belgian brewery conquers Brazil thanks to playing cards

13/09/2017

Het Nest, a small brewery from Turnhout, will get its beers brewed in Brazil as well. It has struck a deal with Cervejaria Premium Paulista, which will brew and distribute the beers locally.

Price cuts drive 25 % more customers to Whole Foods

12/09/2017

Supermarket chain Whole Foods welcomed an additional 25 % of customers in the first few days following Amazon’s price cuts.

Ter Beke enters British food service industry

12/09/2017

Belgian food group Ter Beke has acquired a 90 % stake in British competitor KK Fine Foods for an undisclosed fee. The current shareholders hold onto the other 10 %.

Godiva wants to conquer the world through supermarkets

12/09/2017

Belgian praline brand Godiva will soon sell its chocolate in supermarkets all over the world after signing a deal with chains like Albert Heijn and Sainsbury’s. Previously, it sold nearly all its chocolate through its own store network.

Insight: Xavier Piesvaux' seven labours at Delhaize

10/09/2017

Can one French and several Dutch managers do what the Belgian management failed to do these past few years at Delhaize Belgium? Its new CEO will face plenty of challenges: we count at least seven.

Nestlé USA acquires food manufacturer Sweet Earth

08/09/2017

Nestlé USA has acquired American Sweet Earth for an undisclosed fee. The company mainly manufactures meat replacements, a rapidly-growing market, but also several frozen meals.

Back to top