The problems of the second largest sporting goods company in the world are significant.
(Photo: Adidas)
Munich Before the Adidas general meeting on Thursday, investors are very displeased. “The catastrophic operational development and the much too late intervention not only destroyed trust on the capital market, but also destroyed shareholder capital,” complains Ingo Speich, Head of Sustainability and Corporate Governance at Deka Investment.
He wants to refuse the discharge of the board of directors and the supervisory board at the shareholders’ meeting, as does the fund company Union Investment. “Adidas has had a devastating year and there is no profit in sight in 2023 either,” says Thomas Jökel from Union Investment.
The new CEO Björn Gulden was able to lighten the mood somewhat with the presentation of the figures for the first quarter. Sales stagnated at 5.3 billion euros, analysts had expected a decline.
The new Adidas boss inherited many problems from his predecessor.
(Photo: Reuters)
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