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Stella McCartney

Corporate Governance Overview

We are convinced that good corporate governance enhances the confidence placed in our company by our shareholders, business partners, employees and the financial markets.

The term Corporate Governance refers to the entire system for managing and supervising a company, including its organization, its values, business policies and guidelines, as well as all internal and external regulatory and monitoring mechanisms.

At adidas AG Corporate Governance stands for:

  • responsible, value-based management and monitoring focused on long-term success,
  • efficient cooperation between our Executive Board and Supervisory Board,
  • protection of the interests of our shareholders, employees and other stakeholders,
  • transparency in all of our corporate communication,
  • appropriate risk management. 

For further information, please have a look at the various Corporate Governance topics listed hereafter.

German Corporate Governance Code

The German Corporate Governance Code („Code“), which was first adopted on February 26, 2002 by the Government Commission appointed by the Justice Minister in September 2001, aims to promote the confidence of national and international investors, customers, employees and the public in the management and supervision of German corporations listed at the stock exchange. The Code presents essential statutory regulations for the management and supervision (governance) of German listed companies and contains internationally and nationally recognized standards for good and responsible governance. It contains advice for the management and supervision in the form of recommendations ("shall") and suggestions ("should").

adidas AG is an international corporation with shareholders, customers, suppliers, employees and Executive and Supervisory Board members from all over the world. In light of this fact, we welcome the German Corporate Governance Code and the aim pursued thereby to achieve greater transparency for both national and international investors and to strengthen confidence in the management of German corporations.

Declaration of Compliance

We have examined the subject of corporate governance in depth and comply with the recommendations contained in the German Corporate Governance Code with a few exceptions. We fully comply with the non-binding suggestions. Once a year, the Executive Board and the Supervisory Board of adidas AG issue a declaration of compliance in accordance with §161 German Stock Corporation Act (Aktiengesetz - AktG). For our declarations since 2008, please click on the link below.

Corporate Bodies

The Executive Board, the Supervisory Board and the General Meeting form the central bodies of adidas AG.

The German stock corporation law clearly distinguishes the areas of responsibilities of these three bodies. For the main interactions between the Executive Board, Supervisory Board and General Meeting please go to the relevant section mentioned hereafter.

Managers' Transactions

To comply with Article 19 of the Market Abuse Regulation ("MAR"), persons discharging managerial responsibilities as well as persons closely associated with them are required to disclose all transactions involving the purchase or sale of adidas stock where such transactions exceed EUR 5,000 in a calendar year. On the page mentioned hereafter you will find all published managers' transactions since 2013.

adidas AG Articles of Association

The German Stock Companies Act requires joint-stock companies to have Articles of Association. These contain such information as the company's name, its registered seat, the amount of its share capital and the number of members of its Board of Management and Supervisory Board. Under the following link, you may always find the most current version of our Articles of Association.

Code of Conduct

In order to ensure exemplary actions and behavior, we implemented a code of conduct  (the "adidas Fairplay Code of Conduct") in our Company, which has been applicable in all regions and business areas since 2006. Guidelines for day-to-day behavior in everyday work are stipulated in this Code.

Furthermore, we have applied strict rules at our own sites and our suppliers’ factories to cover health and safety, labor rights and environmental protection. These "Workplace Standards" draw from international law and the International Labour Organization conventions, and follow the model code of conduct of the World Federation of Sporting Goods Industry. We revised the Workplace Standards in 2001 and 2006 in consultation with labor rights groups.

We expect all our suppliers to live up to these Standards. They are a contractual obligation under the manufacturing agreements which adidas signs with its main business partners.

Risk and Opportunity Management

adidas continuously explores and develops opportunities to sustain earnings and drive long-term increases in shareholder value. We acknowledge that in our daily business we are exposed to various risks and that it is necessary to take certain risks to maximise business opportunities. Our risk and opportunity management principles and system provide the framework for our company to conduct business in a well-controlled environment.

Accounting and Annual Audit

On May 9, 2018, the Annual General Meeting appointed KPMG AG Wirtschaftsprüfungsgesellschaft, Berlin, as auditor for the adidas AG annual financial statements and the consolidated financial statements for the financial year 2018, after the Supervisory Board had confirmed the independence of the auditor.

Tax Approach

adidas acts as a responsible global corporate tax citizen in compliance with applicable tax laws and regulations in all jurisdictions we operate in.

adidas encourages ethical and transparent business practices and does not use legal entities for tax avoidance purposes.

adidas is committed to complying with respective tax obligations and supranational rules and is engaged in reasonable tax planning to the extent that it is aligned with our commercial, economic and reputational goals.