ADS +5.92%
Adidas CEO Hainer met his critics with a new growth strategy. So sales are expected to grow in 2020 by more than five billion euros. However, headhunters are already charged with the succession search.
Hamburg - 2020 in the sporting goods company wants to increase its revenue from the current 14.8 billion to 20 billion euros. This was reported by the manager magazine in its latest issue, citing the environment of the company (Release date: February 20). The design of the new 2020 also provides for an operating margin of at least 10 percent, published in Hamburg magazine writes.
A key component of the new five-year plan, to be presented in March, is a so-called capital strategy: A strong presence in New York, Los Angeles, Shanghai, Tokyo, London and Paris to Adidas give more radiance again. Each of megacities, the plan is equipped with its own leader. The 2020 is currently being discussed in the Management Board and Supervisory Board, a final version should be ready by the beginning of March.
Once the new strategy is, Adidas wants to search for a successor to CEO Herbert Hainer force. Hainer contract expires in March 2017. The mandate for the executive search, the international recruitment consultancy Egon Zehnder. The Adidas headhunters have supported in the past year about to rejuvenate the management. The company has recently been 12 of 26 top positions filled.
Investors had last been critical of the current leadership. The Aktionaersschuetzer Hans-Martin Buhlmann by the Association of Institutional private investors told the manager magazine: "I see glaring weaknesses in corporate governance at Adidas, which have an impact on our operating results." At the beginning of February, Ingo Save, portfolio manager of the Adidas shareholder Union Investment, opposite the "Wall Street Journal" demands ". We want Hainer is leaving the company"
BN 02/19 08:56 *MANAGER MAGAZIN CITES UNIDENTIFIED PEOPLE CLOSE TO ADIDAS
BN 02/19 08:55 *ADIDAS TARGETS '20 OP RETURN ON SALES AT LEAST 10%: MANAGER MAG
BN 02/19 08:54 *ADIDAS TARGETS 2020 SALES OF EU20B: MANAGER MAGAZIN
BN 02/19 08:55 *ADIDAS TARGETS '20 OP RETURN ON SALES AT LEAST 10%: MANAGER MAG
BN 02/19 08:54 *ADIDAS TARGETS 2020 SALES OF EU20B: MANAGER MAGAZIN
Adidas Targets 2020 Sales of EU20b, Manager Magazin Reports
2015-02-19 09:06:46.490 GMT
By Chris Malpass
(Bloomberg) -- Adidas will aim to boost sales by EU5b to
EU20b and operating return on sales of at least 10%, Manager
Magazin says citing people it doesn’t name.
* Manager Magazin also says:
* Co. to present new 5-year plan in March
* Key aspect of plan will be focus on strong presence in
cities of New York, Los Angeles, Shanghai, Tokyo, London
and Paris
* Adidas plans to name one manager to be in charge of
brand in each megacity
* Strategy still under discussion at supervisory board
level
* Search for new CEO to start once strategy decided as CEO
Herbert Hainer’s contract ends March 2017
* Headhunters Egon Zehnder has been charged with finding
new CEO
* Headhunters Egon Zehnder has been charged with finding
new CEO</li></ul>
For Related News and Information:
First Word scrolling panel: FIRST<GO>
First Word newswire: NH BFW<GO>
--With assistance from Claudia Rach in Berlin.
To contact the reporter on this story:
Chris Malpass in Berlin at +49-30-70010-6234 or
cmalpass@bloomberg.net
To contact the editors responsible for this story:
James Ludden at +44-20-3525-2645 or
jludden@bloomberg.net
Chris Malpass
2015-02-19 09:06:46.490 GMT
By Chris Malpass
(Bloomberg) -- Adidas will aim to boost sales by EU5b to
EU20b and operating return on sales of at least 10%, Manager
Magazin says citing people it doesn’t name.
* Manager Magazin also says:
* Co. to present new 5-year plan in March
* Key aspect of plan will be focus on strong presence in
cities of New York, Los Angeles, Shanghai, Tokyo, London
and Paris
* Adidas plans to name one manager to be in charge of
brand in each megacity
* Strategy still under discussion at supervisory board
level
* Search for new CEO to start once strategy decided as CEO
Herbert Hainer’s contract ends March 2017
* Headhunters Egon Zehnder has been charged with finding
new CEO
* Headhunters Egon Zehnder has been charged with finding
new CEO</li></ul>
For Related News and Information:
First Word scrolling panel: FIRST<GO>
First Word newswire: NH BFW<GO>
--With assistance from Claudia Rach in Berlin.
To contact the reporter on this story:
Chris Malpass in Berlin at +49-30-70010-6234 or
cmalpass@bloomberg.net
To contact the editors responsible for this story:
James Ludden at +44-20-3525-2645 or
jludden@bloomberg.net
Chris Malpass