On Thursday, the majority of Adidas shareholders at the company’s annual general meeting re-elected Thomas Rabe as chairman of Adidas’s supervisory board for a fifth consecutive term. He was first appointed in 2020 and is set to hold the position till 2025, in accordance with the new development. 
“The succession planning for the Supervisory Board as a whole and for myself as Chairman of the Supervisory Board is paramount for me,” Rabe said in a letter to shareholders ahead of the AGM.
The re-election came in despite the recommendation of advisory firm Institutional Shareholder Services (ISS) to vote against Rabe’s reappointment due to what it argued was an “excessive” number of roles at other companies.
The German sports brand said the reappointment “ensures a smooth chairmanship handover”.
Who is Thomas Rabe?
Thomas Hermann Rabe is a German business executive who has led 17 companies. In addition to his position at Adidas, he is also the CEO of German broadcaster RTL Group and the CEO of media conglomerate Bertelsmann.
Thomas succeeded Igor Landau at Adidas in 2020. Before 2020, he was a member of the company’s supervisory board since May 2019, serving as deputy chairman.
About Adidas
Founded in 1949, Adidas AG is a German athletic apparel and footwear corporation headquartered in Herzogenaurach, Bavaria, Germany.
It is the largest sportswear manufacturer in Europe and the second largest globally after Nike.
This year, the brand celebrates the tenth anniversary of Adidas SPZL, which is a celebration of the Three Stripes’ legacy.
The sports brand is set to appoint its successor in 2025.
