“The past years have been marked by several external factors that disrupted our business significantly. It required huge efforts to master these challenges. This is why enabling a restart in 2023 is the right thing to do — both for the company and me personally,” Rorsted added.
Rorsted had been credited with driving changes in the group’s focus, shifting to direct-to-consumer sales and e-commerce, as well as expansion in the U.S. and. In the second quarter, Adidas posted a net profit of 360 million euros, down 7 percent year-over-year, and partially boosted by a 100 million euro tax benefit. Operating profits plunged almost 28 percent.
The unexpected news of Rorsted’s planned departure caused Adidas shares to dive 5.2 percent on Monday, closing at 156.98 euros.