After an underperforming 2014, Adidas is looking to replace its current CEO, Herbert Hainer.
According to an internal letter submitted to all employees and written by Hainer, the supervisory board of Adidas, together with executive search firm Egon Zehnder, will evaluate possible candidates internally and externally.
Hainer has presided over Adidas since 2001. The search for a new CEO will be a long-term progress, so Hainer’s contract was extended until 2017 to ensure a smooth transition to the new hire. There have already been some changes in executive leadership in the last year and a half: Roland Auschel was appointed global sales director and Karen Parkin took the post of chief HR officer.
Adidas’s profit declined two percent in the first nine months of 2014. Adidas will reveal the full year results and its new long-term strategic business plan by the end of March 2015.