- Adidas AG slashed its dividend and shook up its management.
- CEO Bjorn Gulden to return sports apparel maker to profit in 2024 by reducing discounts and inventories.
- Adidas and Yeezy terminated their partnership in October with Adidas initiating arbitration proceedings claiming damages.
- Arthur Hoeld to become head of global sales in April.
- Adidas proposed slashing annual dividend by 79% to 70 cents.
Adidas Shakes Up Management, Sidesteps Yeezy Gear Question
Adidas AG slashed its dividend and shook up its management as new Chief Executive Officer Bjorn Gulden tries to turn around the crisis-beset German sports brand.
Tim Loh
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