adidas Appoints Puma Boss Bjørn Gulden as CEO

adidas has confirmed that Bjørn Gulden, the current CEO of Puma, will assume the role of the new global CEO of adidas starting from January 1^st, 2023. The two companies have already begun negotiations regarding the transition.

Bjørn Gulden has 20 years of industry experience. He has been serving as the CEO of Puma since 2013, leading the company to achieve strong growth. According to Puma's latest financial report, their annual sales increased by 32% to reach 6.8 million euros, and profits rose to 557 million euros, marking the best performance in Puma's history.

Before becoming the CEO of Puma, Gulden held positions as the CEO of the Danish jewelry brand Pandora, General Manager of Deichmann, the largest footwear retailer in Europe, and Manager of outdoor apparel company Helly Hansen. The new CEO of Puma will be Arne Freundt, the current CFO of the brand.

ConCall:

While Bjørn Gulden does have a brilliant career resume and achievements, the comparison between Puma and adidas, which was once the world's second-largest sportswear brand, reveals a significant difference in terms of scale and market value. The substantial increase in management scope presents a formidable challenge for Bjørn Gulden. Moreover, adidas is currently facing daunting issues such as inventory backlog, missteps in the Chinese market, and the urgent termination of the Yeezy project in collaboration with YE...

adidas urgently requires new strategic plans and product strategies to remedy its losses in the Chinese market. With formidable competitors like Nike and the emerging lululemon in the forefront, and the dynamic Anta Group advancing behind, adidas still has a long and arduous journey ahead if it aims to regain its position in the top tier of international brands.