BEHIND THE STITCH: ALANI
June 21, 2024
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Adidas has nominated Egyptian billionaire Nassef Sawiris to become the company’s next chairman, pending approval from shareholders at its annual meeting in May.
Sawiris has served on the German sportswear giant’s supervisory board since 2016 and is widely known for his investments across industries, including sports. He is also the co-owner of Premier League football club Aston Villa.
If confirmed, Sawiris would succeed outgoing chairman Thomas Rabe and become one of the most influential figures guiding adidas’ strategic direction during a pivotal era for the brand.
The move comes as adidas continues to reshape its leadership and long-term strategy following a turbulent period marked by leadership changes and the end of its Yeezy partnership.
Sawiris’ deep business background and global investment portfolio could bring a new perspective to the company’s governance as it focuses on strengthening growth and competitiveness in the global sportswear market.
