Adidas names Thomas Rabe as new chairman of supervisory board
Feb 14, 2020
Adidas' supervisory board has announced the nomination of Thomas Rabe as new chairman, following a board meeting on 13 February. Thomas Rabe is to succeed Igor Landau, who is leaving the company on 14 May after the annual general meeting.
“In the interests of a smooth handover and in line with the transition of the current strategic five-year plan to a new strategic cycle starting at the beginning of 2021, May is the right time to hand over my mandate as supervisory board chairman to a successor. I am convinced that Thomas Rabe will make an excellent chairman, enriching the board in this role with his great leadership, digital and financial competence,” said Landau, current chairman.
Rabe, 54, has been a member of the company’s supervisory board since May 2019, serving as deputy chairman. He is currently the boss of Bertelsmann, a global media, services and education company in Germany, where he has held the roles of chairman and CEO since 2012.
According to Landau, Rabe displayed “a great level of engagement” within the Adidas board since being appointed a member last year. “He has been a key driving force, and he already has extensive experience as a supervisory board chairman,” Landau added.
“I relinquish my task with the pleasure of knowing that the company is extremely well positioned from a financial point of view, it is leading the way in sustainability, and that Adidas has developed into one of the world’s best-known brands and most popular employers,” he continued.
Landau, 75, leaves the company after more than 15 years. He joined the board in 2004, and became the chairman of the leading sports brand in 2009. During his tenure, the company saw its market value surge from €5 billion to €57 billion.
Commenting on his appointment, Rabe said: “I am aware that this office entails a high degree of responsibility which I will gladly take on in the interests of shareholders, customers, consumers, employees and partners.”
In addition to Rabe, Christian Klein, co-CEO of SAP SE, is nominated as a new non-executive director. Shareholders will have to vote on his nomination at the upcoming annual general meeting on 14 May. Klein, 39, has been co-CEO of SAP SE since October 2019.
“With his proven expertise in the fields of digital innovation and transformation, Christian Klein is the ideal addition to the supervisory board,” said Landau. “He knows what it takes to be successful as a company globally.”
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