3/4/2026 | USA | economy | ✓ Verified - investing.com

Adidas proposes Nassef Sawiris as new chairman and extends CEO contract to 2030

#Adidas #Nassef Sawiris #Thomas Rabe #Bjorn Gulden #Chairman #CEO #Shareholder Vote

📌 Key Takeaways

Adidas proposes Nassef Sawiris as new chairman
Thomas Rabe stepping down after shareholder opposition
Bjorn Gulden's CEO contract extended to 2030
Shareholder vote scheduled for May 7

📖 Full Retelling

Adidas announced on March 4, 2026 that it is proposing Egyptian billionaire board member Nassef Sawiris as its new chairman, replacing Thomas Rabe who faced shareholder opposition, while extending CEO Bjorn Gulden's contract to the end of 2030 following his successful turnaround of the brand since 2023. The sportswear giant has been undergoing leadership changes after shareholders expressed dissatisfaction with Rabe's performance at the last two annual general meetings. Only 64% of shareholders supported Rabe's reelection last year, with many investors citing his divided attention due to other executive roles as a concern for Adidas' strategic direction. Sawiris, who has been on Adidas' board since 2016, will face a shareholder vote for the chairman position at the company's annual general meeting scheduled for May 7.

🏷️ Themes

Corporate Leadership, Shareholder Relations, Business Restructuring

📚 Related People & Topics

Nassef Sawiris

Egyptian businessman (born 1961)

Nassef Onsi Sawiris (Arabic: ناصف أنسي ساويرس; born 19 January 1961) is an Egyptian businessman, and the youngest of Onsi Sawiris' three sons (his brothers are Naguib and Samih). As of January 2026, his net worth was estimated at US$8.5 billion, making him the richest Egyptian.

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Chair (officer)

Leading or presiding officer of an organized group

The chair, also chairman, chairwoman, or chairperson, is the presiding officer of an organized group such as a board, committee, or deliberative assembly. The person holding the office, who is typically elected or appointed by members of the group or organisation, presides over meetings of the group...

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Thomas Rabe

German professor for gynaecology and obstetrics

Thomas N. Rabe (born 18 February 1951, in Heidelberg) is a German professor for gynaecology and obstetrics at the University Hospital Heidelberg. He is author of several scientific publications and reference books.

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Adidas

German multinational clothing and apparel corporation

Adidas AG (German pronunciation: [ˈadiˌdas] ; stylized in all lowercase since 1949) is a German multinational athletic apparel and footwear corporation headquartered in Herzogenaurach, Germany. It is the largest sportswear manufacturer in Europe, and the second largest in the world, after Nike. It i...

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