August 22, 2022 - 8:05am | By Kyle Cornell
(Herzogenauracgh, Germany) -- The search for a new CEO at Adidas is underway.
The German athletic wear company announced today that current CEO Kasper Rorsted will step down in 2023.
Adidas said the decision was made by mutual consent.
Stock of the sport apparel group slid as the news broke. Rorsted has led the company since 2016, a period that saw Adidas gain ground on rival Nike in the U.S.
