As adidas' search for a new leader "enters its eighth month, some investors say that only an outsider can provide the shakeup the sportswear maker needs to close its longstanding gap with Nike," according to Aaron Ricadela of BLOOMBERG.
Southeastern Asset Management Inc. and Union Investment said that an external successor to CEO Herbert Hainer "would be best placed to help the German company catch up with its American rival." Ingo Speich, a fund manager at Union Investment in Frankfurt, which holds about 1% of adidas, said, "We clearly favor someone from the outside. We want a radical new start. The old establishment has to go." Germany’s Manager Magazin reported Thursday that Dial soap-maker Henkel AG CEO Kasper Rorsted "has spoken to adidas about the role." The report sent shares of the sneaker maker up as much as 5.3%, the "most in more than two years, and suggesting that other investors share the desire for a fresh face in charge." Adidas "has already reached out to some outsiders." Two people with knowledge of the matter said that former Luxottica Group SpA CEO Andrea Guerra "was contacted this year about the adidas job." Rorsted "has also been considered." Representatives for both men "declined to comment" (BLOOMBERG, 9/17).
