Adidas appoints ex-Puma chief Bjorn Gulden as new CEO

Adidas appointed former Puma head Bjorn Gulden as its next CEO effective January 1, 2023. Current CEO Kasper Rorsted will step down on Friday, Adidas said. This came after Adidas recently terminated its Yeezy partnership following antisemitic remarks from the rapper-designer Ye, formerly known as Kanye West. Yeezy accounted for nearly half of the company's total profits in recent years.