January 18, 2016 / 11:02 AM / 4 years ago

Adidas names Henkel's Rorsted to replace Hainer as CEO

FRANKFURT, Jan 18 (Reuters) - Adidas named Henkel Chief Executive Kasper Rorsted as its new CEO, replacing Herbert Hainer, who has headed the sportswear maker since 2001 and is the longest-serving boss of a German blue-chip.

Rorsted will join the Adidas management board on Aug. 1 and take the helm on Oct. 1, the company said in a statement on Monday. Henkel said earlier that Rorsted would leave at the end of April at his own request.

Hainer’s contract runs until March 2017, but he has come under fire as Adidas has lost market share to Nike, prompting the board last February to say it had launched a search for a successor. (Reporting by Maria Sheahan and Emma Thomasson; Editing by Harro ten Wolde)

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