Hainer's Rebound

A Solid Farewell at Adidas

CEO of Adidas-Group Herbert Hainer speaks during a press conference about the sponsors agreement between DFB and adidas in Paris, France, 20 June 2016. The UEFA EURO 2016 takes place from 10 June to 10 July 2016 in France. Photo: Christian Charisius/dpa +++(c) dpa - Bildfunk+++
A happy goodbye for Herbert Hainer.
  • Why it matters

    Why it matters

    Herbert Hainer leaves Adidas in a solid position to make further inroads against the global sportswear leader Nike.

  • Facts

    Facts

    • Adidas’ reported net income doubled in the second quarter to €291 million, while sales jumped 13 percent.
    • The company boosted its full-year profit forecast for the second time this year and now predicts an increase of 35-39 percent.
    • Herbert Hainer will step down as CEO in October after 15 years on the job, giving way to Kasper Rorsted.
  • Audio

    Audio

  • Pdf

Herbert Hainer has a lot to smile about. The man at the helm of Adidas for the last 15 years may be quitting Europe’s largest sportswear company in two months, but he can leave with his head held high.

The chief executive on Thursday surprised investors with a solid increase in second-quarter profits. More than that: He raised Adidas’ full-year profit forecast for the second time this year.

Revenue jumped 13 percent in the second quarter to €4.4 billion. Net income from continuing operations doubled to €291 million, aided by the timely cancellation of a sponsoring contract with Chelsea Football Club in Britain, which increased profits by a high double-digit million figure, the company said.

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