Adidas appoints the CEO of Puma as its head
By Ibidunni Banjoko
In a bid to emerge from months of turbulence, Europe’s largest sportswear manufacturer, Adidas has appointed Bjørn Gulden, the Chief Executive Officer (CEO) of Puma to succeed the German company’s current chief, Kasper Rorsted, to be effective from January 1, 2023.
The sportswear giant said its former CEO, Rorsted, plans to exit the company by November 11, 2022. The Chief financial officer of Adidas, Harm Ohlmeyer, will lead the company in the interim until December 21.
Gulden had been CEO at rival company Puma since 2013, prior to which he had served a tenure at Adidas in a number of senior roles throughout 1992 to 1999.
He has also held executive positions at the likes of Danish jewellery brand Pandora, as well as footwear retailers Deichmann and Rack Room Shoes.
He further serves as chairman of the board of Salling Group, a Danish food retailer.
In a statement from Adidas, the brand’s chairman of the supervisory board, Thomas Rabe, said: “We are very pleased to welcome Bjørn Gulden back at Adidas. Bjørn Gulden brings almost 30 years of experience in the sporting goods and footwear industry.
“As a result, he knows the industry extremely well and draws on a rich network in sports and retail. Bjørn Gulden already served Adidas successfully for seven years in the 1990s.
“As CEO of Puma, he re-invigorated the brand and led the company to record results. The supervisory board of Adidas is convinced that Bjørn Gulden will lead Adidas into a new era of strength and is looking very much forward to successful cooperation.”
Rabe further thanked Rorsted for his work at the company, crediting him with strategically repositioning the brand and accelerating digital transformation.
Upon the announcement, Puma confirmed that Arne Freundt is to immediately become CEO and chairman of the management board for Puma.
However, it has since changed its stance following Adidas’ announcement, pushing forward Freundt’s entry date.
Prior to his appointment, Freundt served as Puma’s chief commercial officer, with his position at the helm of the company to revolve around further accelerating the company’s momentum.
Adidas ended production of the highly successful “Yeezy” line designed together with West, a move that would slash the company’s net income in 2022 by “up to 250 million euros ($246 million)”. Both Adidas and Puma are based in the Bavarian town of Herzogenaurach, close to Nuremberg.
The twin companies were founded by two brothers. Adolf Dassler began Adidas before his brother, Rudolf, with whom he had a fierce rivalry, established Puma.
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