Adidas AG
Leadership History
4 leaders · 1993 to present
Bjørn Gulden is the CEO of Adidas, in the role since 2023. The first chief executive was Robert Louis-Dreyfus, from 1993.
| Name | Role | From | To | Years in role |
|---|---|---|---|---|
| Bjørn Gulden | CEO | 2023 | Present | 3 |
| Kasper Rørsted | CEO | 2016 | 2022 | 6 |
| Herbert Hainer | CEO | 2001 | 2016 | 15 |
| Robert Louis-Dreyfus | CEO | 1993 | 2001 | 8 |
Adidas is a German sportswear group headquartered in Herzogenaurach. Its products cover performance sports and lifestyle categories and are sold globally through retail partners, company stores, and e-commerce. The company is headquartered in Herzogenaurach, Germany. Before becoming a global streetwear icon, the company was forged in a small washroom in Herzogenaurach, Bavaria, Germany, following a bitter family feud that literally split a town and created two massive rival shoe empires.
CEO
2023 – Present
3 years (current)
Gulden restored wholesale relationships, reduced inventories, returned product decisions to markets, and completed sales of remaining Yeezy inventory.
Adidas reported 2025 sales of ~$28 billion (EUR24.811 billion) and attributable net income of ~$1.51 billion (EUR1.340 billion) during his tenure. His appointment was extended through 2030.
CEO
2016 – 2022
6 years
Rørsted prioritized high-margin e-commerce growth over physical retail expansion, pushing direct-to-consumer sales from roughly 20% to over 40% of total revenue. He navigated the COVID-19 pandemic disruptions, oversaw the multi-billion-dollar Yeezy partnership expansion, and executed the 2021 agreement to divest the struggling Reebok brand to Authentic Brands Group for €2.1 billion to refocus entirely on the core Adidas label.
Under Rørsted's leadership from 2016 to 2022, Adidas doubled its North American market share and expanded annual e-commerce sales from €1 billion to over €4 billion. Although he improved operating margins during his early years, severe supply chain disruptions in Asia, consumer boycotts in China, and accumulating unsold inventory forced him to step down in late 2022, paving the way for Bjørn Gulden's turnaround.
CEO
2001 – 2016
15 years
Hainer oversaw the Reebok acquisition, expanded designer collaborations, and increased the company's presence in emerging markets.
During his tenure Adidas expanded its brand portfolio and grew its global footwear and apparel business.
CEO
1993 – 2001
8 years
Louis-Dreyfus moved production toward external suppliers, repositioned the brand, completed the 1995 public listing, and oversaw the 1997 Salomon acquisition.
He led Adidas through its 1990s restructuring and transition to a publicly listed sporting-goods group.
Adidas must manage inventory and discounting, develop demand beyond current archive footwear, improve its North American position, and respond to currency, tariff, and supply-chain pressures.
Kasper Rørsted served as CEO of Adidas from 2016 to November 2022, aggressively growing e-commerce revenues, expanding operating margins, divesting Reebok, and scaling the Yeezy line before departing amid post-pandemic headwinds.
Herbert Hainer served as CEO from 2001 to 2016, acquiring Reebok for $3.8 billion, expanding global sales from ~$6.78B (€6B) to ~$21.5B (€19B), and establishing Adidas as a modern global sports apparel giant.
Robert Louis-Dreyfus served as CEO from 1993 to 2001. He led the restructuring, moved production toward external suppliers, completed the 1995 public listing, and oversaw the 1997 Salomon acquisition.
Gulden eliminated matrix bureaucracy, gave product managers creative freedom, distributed his personal mobile number to retail partners, accelerated production of Samba and Gazelle sneakers, and returned Adidas to profitability.
A former professional soccer player in Germany and Norway, Gulden served as CEO of Danish jewelry maker Pandora, Managing Director of footwear retailer Deichmann, and CEO of Puma before taking the helm at Adidas.
Thomas Rabe chaired the Supervisory Board of Adidas AG until his term ended as planned at the Annual General Meeting on May 7, 2026. Long-time board member Nassef Sawiris succeeded him as Chairman of the Supervisory Board.
After delivering about US$2.3 billion (€2.056 billion) of operating profit in 2025, management raised its 2026 outlook in July 2026 to 9% to 10% currency-neutral revenue growth and kept its target of operating profit of around US$2.6 billion (€2.3 billion).
Bjørn Gulden took over as CEO, famously moving over from rival Puma, to execute a massive turnaround strategy for the brand.
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