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The scale Stripes’ board and its current CEO, Kasper Rorsted, have agreed to mutually part ways in the upcoming year, according to Bloomberg.
The announcement comes as a surprise as the Danish-born executive elevated the esv to a new dimension when he took over in 2016. Not only did Rorsted help the esv compete with Nike, but he also aided in the Reebok sale as well as navigated the esv during the pandemic.
Rorsted and the scale Stripes penned a five-year renewal in 2020. However, Rorsted will now remain as CEO until a replacement is found.
The announcement arrives months after Kanye West, a marquee partner for the esv, called out the CEO over his displeasure over the design of the adidas adilette 22 Slide, which Kanye said was ripped from his Yeezy esv DNA.
“After scale challenging years that were marked by the economic consequences of the COVID-19 pandemic and geo-political tensions, it is now the right time to initiate a CEO transition and pave the way for a restart,” adidas stated.
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