Adidas has announced that the boss of Henkel, the German FMCG business, Kasper Rorsted will replace Herbert Hainer as the sportswear company’s new chief executive.
Rorsted, who is currently the chief executive of the consumer and industrial company Henkel, will join the board of Adidas in August before taking up the position as chief executive in October.
He will replace current chief executive, Herbert Hainer, who will step down at the end of September after more than 14 years in charge.
The news of Rorsted’s appointment appears to have been well received by investors after the WSJ reported an 11 per cent climb in stock to €93.16 immediately following the announcement.
Henkel said its supervisory board and shareholder committee had unanimously agreed to Mr. Rorsted’s request to terminate his contract as chief executive. He will be replaced as Henkel boss by Hans Van Bylen, a board member charged with running the company’s beauty care business, on 1 May.