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		</div><p>Adidas’ chief executive officer Kasper Rorsted will step down next year, the sports apparel maker said.</p>
<p>The company has started looking for a successor.</p>
<p>Mr Rorsted, who has been boss since 2016, and its supervisory board “mutually agreed” that he will hand over during the course of 2023, the Germany-based firm said.</p>
<p>“After three challenging years that were marked by the economic consequences of the Covid-19-pandemic and geopolitical tensions, it is now the right time to initiate a CEO transition and pave the way for a restart,” supervisory board chairman Thomas Rabe said in a statement.</p>
<p>He thanked Mr Rorsted for “major achievements” that included strategically repositioning the company, vastly expanding its online sales and doubling sales in North America.</p>
<p>Mr Rabe said Adidas can now focus on its core brand after divesting TaylorMade, Reebok and CCM Hockey.</p>
<p>Recent years “have been marked by several external factors that disrupted our business significantly” and that it took “huge efforts” to deal with those challenges, Mr Rorsted said.</p>
<p>“This is why enabling a restart in 2023 is the right thing to do — both for the company and me personally,” he added.</p>
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