Adidas stocks up 12% as new CEO announced

Published:  21 January, 2016

Adidas has appointed Kasper Rorsted as its new CEO.

Rorstead has been leading the German consumer goods Henkel for the past two years, during which he boosted sales and profit margins.

At the announcement of Rorstead’s appointment Adida’s shares increased 12%. He will be replacing Herbert Hainer, who has headed the sportswear manufacturer since 2001.

Source: Bloomberg Business