BLOOMBERG: Sneaker company’s board begins its hunt for a successor to Herbert Hainer.
BLOOMBERG: Sneaker company’s board begins its hunt for a successor to Herbert Hainer.
An executive search firm has been hired to find a replacement for 60-year-old Hainer, whose contract ends in 2017, Igor Landau, chairman of the company’s supervisory board, said in a statement Thursday. The search will span both internal and external candidates.
Adidas’s CEO of about 14 years has come under pressure from shareholders amid lost market share to leader Nike Inc. and a 38 percent tumble in its stock price last year. Hainer plans to unveil a long-term strategy and financial targets through 2020 in a March 26 presentation at Adidas’s Herzogenaurach, Germany headquarters.
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Under Armour inks Ali
BLOOMBERG: Under Armour has secured a deal that starts next month with “The Greatest.”
“Ali is one of the most recognized and celebrated figures of all time,” Glenn Silbert, vice president of men’s outdoor and team sports for Baltimore-based Under Armour, said in the e- mailed release. “His achievements both in the boxing ring and through his dedicated humanitarian efforts around the world solidify him as ‘The Greatest of All Time.'”
Ali was named the sportsman of the 20th century by Sports Illustrated and the British Broadcasting Corp. He was stripped of the heavyweight title he won in 1964 for refusing to fight in the Vietnam War and didn’t box again for four years. He won the title again in 1974 and 1978 to become the first three-time world heavyweight champion.
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