Adidas has declared Kasper Rorsted as its new Chief Executive Officer. He will replace Herbert Hainer, who has led the brand since 2001 and is the longest-serving boss of a German blue-chip.
The new CEO will join the Adidas management board on August 1 and take the helm on October 1.
The sportswear maker looks forward for a new beginning with the leadership change at the helm of affairs. Hainer's contract runs until March 2017, but he has come under fire as Adidas has lost market share to Nike, which made the sportswear maker board to say last February that it had started looking for a search for the post.
In India, the company is focusing on both offline and online formats to fuel its growth in the market here. It is expanding its operations pan-India at a fast pace.