Adidas snatches Puma boss for struggling brand after Ye fallout

German sportswear brand Adidas has appointed the boss of rival Puma as its next chief executive as it fights a series of problems, from sales in China to tainted stars.

Bjorn Gulden, a Norwegian former professional football and handball player, will take on the role from January next year, replacing current chief executive Kasper Rorsted, who steps down on Friday, Adidas said.

He “brings almost 30 years of experience in the sporting goods and footwear industry,” said Thomas Rabe, chairman of Adidas’s supervisory board.

Gap removes Kanye West's Yeezy from stores

Mr Gulden, 57, takes over with problems on several fronts and unsold shoes piling up.

Adidas severed ties with Ye, formerly known as Kanye West, after the singer made a string of offensive and anti-Semitic remarks.

In recent years, “Yeezy” products have accounted for nearly half of the company’s profits, raising questions about how Adidas will maintain the buzz on its other shoes going forward.

Bjorn Gulden was named last week as a potential successor after Puma announced his departure. AFP

Adidas is also struggling to win back customers in China, once its fastest-growing market.

Sales have plunged by at least a third in the first half of 2022, due to consumer boycotts and Adidas’s challenges in signing local celebrities to market its products.

Mr Gulden was named last week as a potential successor after Puma announced his departure. Confirmation of the appointment saw Adidas shares rise by as much as 4.8 per cent.

“As CEO of Puma, he reinvigorated the brand and led the company to record results … Gulden will head Adidas into a new era of strength,” Adidas said.

The company lowered its outlook for 2022 in July.

Adidas ended production of the highly successful “Yeezy” line, a move that would slash the company's net income this year by “up to 250 million euros ($246 million)”.

Both Adidas and Puma are based in the Bavarian town of Herzogenaurach, about 190 kilometres from Munich.

The two companies were founded by two brothers. Adolf Dassler started Adidas in 1949 before his brother and fierce rival Rudolf established Puma.

Mr Gulden worked for Adidas as senior vice president of apparel and accessories from 1992 to 1999. He was also chief executive of Danish jewellery brand Pandora, before becoming Puma's chief executive in 2013.

Before he takes over, Adidas's chief financial officer Harm Ohlmeyer will serve as interim chief executive through the end of the year, the company said.

Sole survivors

Cecelia Crocker was on board Northwest Airlines Flight 255 in 1987 when it crashed in Detroit, killing 154 people, including her parents and brother. The plane had hit a light pole on take off
George Lamson Jr, from Minnesota, was on a Galaxy Airlines flight that crashed in Reno in 1985, killing 68 people. His entire seat was launched out of the plane
Bahia Bakari, then 12, survived when a Yemenia Airways flight crashed near the Comoros in 2009, killing 152. She was found clinging to wreckage after floating in the ocean for 13 hours.
Jim Polehinke was the co-pilot and sole survivor of a 2006 Comair flight that crashed in Lexington, Kentucky, killing 49.

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Inter Milan 2 (Vecino 65', Barella 83')

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Director: Joseph Kosinski

Rating: 4/5

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She appeared with Keir Starmer on Thursday and the pair embraced, but he had failed to give her his backing as she cried a day earlier.

A spokesman said her upset demeanour was due to a personal matter.

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Key facilities

Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
Premier League-standard football pitch
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600-seat auditorium
Spaces for historical and cultural exploration
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Specialist robotics and science laboratories
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Disruption Lab and Research Centre for developing entrepreneurial skills