Saturday, August 8, 2020

After criticism of Adidas: CEO apologizes

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From stock market darling to bogeyman: Adidas CEO Kasper Rorsted.

Image: Reuters

After the announcement that it would not pay the rent for closed shops, the sporting goods manufacturer was criticized. Adidas CEO Kasper Rorsted is now apologizing. It is questionable whether that is enough.

DThe controversy about deferral of rent can no longer catch Kasper Rorsted. Last weekend, the CEO of Adidas became the nation’s bogeyman. He of all people: darling of the stock exchange, face of a sports and fun brand with a claim to social, social and ecological responsibility – far from any conflict world, even if the company is a major sponsor of shady sports organizations such as FIFA. Now the radiance of the three stripes, always good for maximum attention, has become a boomerang for the 58 year old Dane.

Rorsted, CEO of Herzogenaurach since October 2016 and successor to today’s FC Bayern Munich President Herbert Hainer, has come to the realization that a lot has gone wrong in terms of communication technology in recent days. He misjudged the reactions, which Adidas started with the admittedly shortened and sometimes even misrepresented rental payment freeze to landlords. In retrospect, he will have to ask himself whether he was not premature or even made the wrong decision to take this drastic measure as a cost emergency brake after the shutdown.

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