AD HOC: Supervisory Board of adidas AG proposes enlarging Supervisory Board
The Supervisory Board nominates major shareholder representatives for election.
At its regular meeting today, the Supervisory Board of adidas AG decided to ask for shareholders’ approval at this year’s Annual General Meeting on May 12, 2016, to amend the company’s Articles of Association. The Supervisory Board proposes to increase the size of the Group’s governing body from currently twelve to 16 members to reflect the increasing size and internationality of the company’s business.
Due to parity codetermination, to which adidas AG is subject, once the amendment to the Articles of Association comes into effect, two of the additional four Supervisory Board members have to be elected by the shareholders of the Group. The Supervisory Board has nominated Mr. Ian Gallienne, Co-Chief Executive Officer of Groupe Bruxelles Lambert, and Mr. Nassef Sawiris, Chief Executive Officer of OCI N.V., for election at the 2016 Annual General Meeting for the remaining term of the current shareholder representatives. The remaining two Supervisory Board members will be elected by the employees of adidas AG.