Kasper Rorsted will step down as CEO in 2023

Kasper Rorsted

The manager will leave Adidas in 2023.

(Photo: Bloomberg)

Munich Adidas CEO Kasper Rorsted will leave the sporting goods group early next year. The sporting goods company surprisingly announced on Monday that the change had been agreed “by mutual consent”. A successor has not yet been determined, but the search has begun.

The 60-year-old recently lowered the forecasts for the full year and also admitted mistakes in view of the slump in sales in the important Chinese market. “Of course we made mistakes in China,” Rorsted said in an interview with the Handelsblatt. Adidas was not good enough at understanding consumers. “That’s how we opened up the leeway for Chinese competitors who did it better.”

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