Henrik Bunge has been appointed new CEO of Swedish underwear brand Björn Borg, effective August 1, 2014. Vice President Henrik Fischer will remain Acting CEO until then. In September 2013, Björn Borg’s former President and CEO, Arthur Engel, decided to step down from his position after five years.

Bunge joins Björn Borg from Peak Performance, where he was President from 2012-2013. Prior to that, he worked at Adidas Group for six years, operating as Head of Sales and Head of the Adidas Group Nordic operations, where he was responsible for the Adidas and Reebok brands and in charge of 400 employees in eight countries. The 40-year-old has a Master of Laws degree from Uppsala University (Sweden), along with university studies in business administration and market communication.

Fredrik Lövstedt, Chairman of the Board of Björn Borg said: “[Henrik Bunge’s] experience from leading retail and e-shopping operations with strong lifestyle brands will contribute valuable expertise to Björn Borg.”