Adidas has announced the successor for the long-standing CEO Herbert Hainer. Effective August 1, 2016, Kasper Rorsted is appointed as ordinary member of the Executive Board and effective October 1, 2016 as CEO of Adidas AG.

As Kasper Rorsted will be able to assume his new office from this summer, Herbert Hainer has agreed to relinquish his Executive Board mandate effective September 30, 2016, prior to the expiry of his Executive Board service contract at the end of March 2017.

Kasper Rorsted is 53 years old, Danish-born and has headed up the German DAX company Henkel as CEO since 2008.