Former Puma boss Björn Gulden is set to move into top management at Adidas, taking over from the hapless Kasper Rorsted.
Adidas confirmed on Tuesday that Gulden will be the official successor. He will be appointed to the Executive Board and CEO of Adidas AG from 2023. January 1
Puma has written a success story under the leadership of Gulden since 2013. The manager is seen as experienced, approachable and communicative.
Although the winter transfer window is still far away in football, a real hammer of change is raging among sporting goods manufacturers. Struggling Adidas confirmed on Tuesday that Puma chief Björn Gulden will replace current CEO Kasper Rorsted. From 2023 January 1 Gulden will be appointed to the Executive Board and CEO of Adidas AG. used to have Cougar announced the retirement of the 57-year-old guilder at the end of Adidas had already announced the departure of recent casualty Rorsted in 2023 in August.
For Gulden, the transition to a competitor is not far off. Both sports giants are headquartered in the Franconian town of Herzogenaurach, just a few kilometers apart. The companies were once founded by the brothers Adolf (Adidas) and Rudolf Dassler. The two were considered enemies until death. Competition between shoe and sports goods manufacturers also remained.
However, Gulden will not take over immediately. Kasper Rorsted will step down as CEO effective November 11. Then Harm Ohlmeyer, CFO of adidas AG, takes over. He will temporarily lead the company until 2022. December 31 Current Puma sales manager Arne Freundt from 2023. January 1 will become the general director.
Puma is writing a success story under Gulden
Gulden has always had a deep connection with sports. The Norwegian was a professional footballer and even played for 1. FC Nürnberg in the 2nd Bundesliga in 1984-85. in season He then devoted himself to his business career. Gulden already worked for Adidas in the 1980s and accompanied the sporting goods manufacturer’s IPO. in 2000 became the general director of a shoe manufacturer dikeman. The 57-year-old man has been the CEO of Puma since 2013.
An experienced manager is considered approachable and communicative. Under his leadership, Puma was able to return to its old strength. Away from fashion and back to the main business: sports. In Germany, Puma became the kit supplier of Borussia Dortmund in 2014. Since 2019, the company has also been working with Premier League club Manchester City. Therefore, Puma will pay 75 million euros per season for the deal. The brand is also playing a bigger role in the North American professional basketball league, the NBA, which is driving the growth of the US market.
And the numbers are also true at Puma under guilders. Despite the corona pandemic, the group announces one record result after another. In the third quarter, sales increased by almost a quarter. After taking currency effects into account, the growth was almost 17 percent. The bottom line is that Puma recorded a consolidated result of almost two percent to 146 million euros.
Adidas is of a different caliber
The situation is completely different with the competitor Adidas. The group has had to adjust its sales and profit targets several times over the past few months. Rorsted was accused, among other things, of over-reliance on an essentially profitable but risky business with China. Most recently, the collaboration with rapper Kanye “Ye” West ended due to his repeated public anti-Semitic comments. The company had announced that, as a result, Adidas’ profit should decrease by 250 million.