Adidas has confirmed Bjørn Gulden, the current CEO of Puma, will take up the role of CEO on 1 January 2023 following speculation at the end of last week. Gulden will also join the company's executive board. Rorsted and the supervisory board have mutually agreed that he will step down as CEO and leave the company on 11 November.

Harm Ohlmeyer, chief financial officer of Adidas will lead the company in the interim until 31 December. Gulden is 57 years old, Norwegian and has been CEO of Puma since 2013. During his tenure at Adidas he was senior vice president of apparel and accessories from 1992 to 1999.

He has also held the posts of CEO of Danish jewellery brand Pandora, and managing director of Deichmann.