Adidas extends CEO Rorsted’s contract for five years

German sportswear firm Adidas (ADSGn.DE) on Tuesday said its supervisory board had extended the contract of Chief Executive Kasper Rorsted until July 31, 2026.

Rorsted, 58, has been at the helm of Adidas since October 2016. His contract was due to expire at the end of July next year.