Adidas Snaps Up Puma CEO
Nov 7, 2022
1 min read
Reuters is reporting that Bjorn Gulden, the current CEO of Puma, is in talks to take over at rival Adidas.
Gulden’s departure at the end of the year had already been confirmed. His successor is COO Arne Freundt, who will take the helm on 1st January 2023. The current CEO of Adidas is Kasper Rorsted, who had made clear his intention to leave the role in 2023.
At the end of October, Adidas cut its forecast for 2022. It pointed to a drop in demand in its Western markets; the expenses of leaving the Russian market and lower expected sales from China. The brand’s decision to cut ties with Kanye West is also having an impact.
