At its regular meeting today, the Supervisory Board of adidas AG decided to ask for shareholders’ approval at this year’s Annual General Meeting 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. Due to parity codetermination, two of the additional 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, which will end with the Annual General Meeting in 2019. The remaining two Supervisory Board members will be elected by the employees of adidas AG.
With the planned upscaling of the Supervisory Board we are taking the increasing size and internationality of the company’s business into account.
“In this context, I am pleased with the nominations as the two candidates not only share our view on the growth prospects for the Group, but will also bring a wealth of international experience as well as extensive financial and entrepreneurial expertise to the Board. I am convinced that together with the two additional employee representatives they will be of great benefit to the Supervisory Board and that they will contribute to the successful execution of the Group’s strategy,” commented Igor Landau, Chairman of the Supervisory Board of adidas AG.
Mr. Ian Gallienne has been Co-Chief Executive Officer of Groupe Bruxelles Lambert since January 2012, which he had been a Director of since 2009. Mr. Nassef Sawiris is Chief Executive Officer of OCI N.V. He joined the Orascom Group in 1982, and became Chief Executive Officer of OCI N.V.’s predecessor, Orascom Construction Industries, in 1998.
The invitation to the Annual General Meeting, which will take place on May 12, 2016, in Fuerth (Bavaria), will be announced in the Bundesanzeiger (Federal Gazette) on March 22, 2016. Further information on the Annual General Meeting is available on the company’s website at www.adidas-group.com/en/investors/annual-general-meeting/.