Adidas is downsizing its Executive Board. Chief Sales Officer Roland Auschel is leaving the world's second-largest sporting goods group, for which he has worked for 33 years, at the end of March, the company announced on Wednesday.

The 59-year-old has been on the Management Board for ten years, making him its longest-serving member. His successor comes from within the company: Arthur Hoeld, who has worked for Adidas for 25 years, was previously responsible for the European business and will join the Executive Board on April 1. Brand Director Brian Grevy is also leaving at the end of March. The predecessor of the new CEO Björn Gulden, Kasper Rorsted, had brought the Dane back to Adidas in 2020 after four years and appointed him to the Executive Board.

Gulden will take over his duties himself in future. "In this role, Gulden will lead the company's product and marketing activities in order to ensure the necessary quick decisions across all business units and departments," said the Supervisory Board, explaining the reorganization. The contract of Chief Financial Officer Harm Ohlmeyer has been extended early by three years until 2028, the company announced. He has been a member of the Executive Board for six years. "Harm has exactly the knowledge, experience and attitude we need to be successful again in the future," said Gulden.

(Report by Alexander Hübner, edited by Myria Mildenberger. If you have any questions, please contact our editorial team at berlin.newsroom@thomsonreuters.com (for politics and the economy) or frankfurt.newsroom@thomsonreuters.com (for companies and markets).