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adidas AG Supervisory Board intends to elect Thomas Rabe as Supervisory Board Chairman

Igor Landau to depart after 16 years – Christian Klein, Co-CEO of SAP SE, to be proposed as candidate for Supervisory Board election

The Supervisory Board of adidas AG intends to elect Thomas Rabe, Chairman and Chief Executive Officer of Bertelsmann, as Chairman of the company’s Supervisory Board immediately following the Annual General Meeting on May 14, 2020. This was announced by the company after today’s regular meeting of the Supervisory Board. Thomas Rabe is to succeed Igor Landau as Chairman, whose term of office will end – as resolved upon by last year’s Annual General Meeting – at the close of the adidas Annual General Meeting in May. 

Thomas Rabe (54) has been a member of the adidas Supervisory Board since May 9, 2019, and Deputy Chairman of the Supervisory Board since this same point in time. He was appointed to the Executive Board of Bertelsmann, a global media, services and education company, as Chief Financial Officer in 2006. He has been Chairman and Chief Executive Officer of Bertelsmann since 2012.

“In the interests of a smooth hand-over and in line with the transition of the current strategic five-year plan to a new strategic cycle starting at the beginning of 2021, May is the right time to hand over my mandate as Supervisory Board Chairman to a successor. I am convinced that Thomas Rabe will make an excellent chairman, enriching the Board in this role with his great leadership, digital and financial competence. Over the past year, he has already displayed a great level of engagement within the Supervisory Board. He has been a key driving force, and he already has extensive experience as a supervisory board chairman. Furthermore, I relinquish my task with the pleasure of knowing that the company is extremely well positioned from a financial point of view, it is leading the way in sustainability, and that adidas has developed into one of the world’s best-known brands and most popular employers. I would like to take this opportunity to thank the members of the Supervisory Board and the Executive Board for their good and trusting collaboration,” said Igor Landau, Chairman of the Supervisory Board of adidas AG. 

Igor Landau (75) has been a member of the Supervisory Board of adidas AG since 2004 and Supervisory Board Chairman since 2009. During his term of office, the company’s value has increased from just under € 5 billion to currently just under € 57 billion. 

Thomas Rabe, Chairman and Chief Executive Officer of Bertelsmann, said: “I am delighted to be nominated for the chairmanship of the Supervisory Board of adidas AG. I am aware that this office entails a high degree of responsibility which I will gladly take on in the interests of shareholders, customers, consumers, employees and partners. I would like to take this opportunity, also on behalf of all the Supervisory Board members, to thank Igor Landau for his successful work and his dedicated service to the company.” 

In addition, Christian Klein, Co-Chief Executive Officer of SAP SE, is to be proposed to the shareholders at the upcoming Annual General Meeting for election to the Supervisory Board. Christian Klein (39) has been Co-CEO of SAP SE since October 2019. He was appointed to the SAP Executive Board as Chief Operating Officer in 2018. Igor Landau commented: “With his proven expertise in the fields of digital innovation and transformation, Christian Klein is the ideal addition to the Supervisory Board. He knows what it takes to be successful as a company globally. Therefore, I am very pleased that he has been nominated, in the best interests of adidas.”  

The Annual General Meeting of adidas AG will take place on May 14, 2020, in Fuerth, Bavaria. Further information on the Annual General Meeting is available on the company’s website: www.adidas-group.com/agm.