What happened to Kasper Rorsted, is he dead or still alive?


German sporting goods maker Adidas unexpectedly said on Monday that its chief executive Casper Rostedt will leave before his contract expires next year and that the search for a replacement has already begun.

Thomas Rabe, Chairman of the Supervisory Board, explained.

Rorsted and its board have collectively agreed that the chief executive will step down in 2023, the group said. He added that he will remain in office until a successor is appointed.

Rosted, who has been at the helm of Adidas since 2016, said overcoming the challenges of the past few years has required “enormous effort”.

“That’s why starting over in 2023 is the right thing to do — for the company and for me personally,” he said, without further explaining why he was leaving. Adidas has extended his 2020 contract until July 31, 2026.

Shares in Adidas continued to fall on the news, down 3.2% as of 11:50 GMT, underperforming the blue-chip DAX, which fell 2%.

Adidas cut its 2022 profit target last month, citing a slower-than-expected recovery in China from pandemic restrictions.

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