By Giulia Petroni

Adidas AG said Tuesday that the supervisory board has extended the contract of Chief Executive Kasper Rorsted by an additional five years until July 31, 2026.

The German sporting-goods company said the extension will take effect from August 1, 2021.

Mr. Rorsted has been CEO of the company since October 2016.

Write to Giulia Petroni at giulia.petroni@wsj.com

(END) Dow Jones Newswires

August 04, 2020 05:40 ET (09:40 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.
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