Refusing Rabe's Re-election? Hell No! Adidas Shareholders Can't Get Enough of the CEO's Supervisory Board reign
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Adidas-Foreman Sneaker Model May Extend Lifespan by an Additional Year - Adidas CEO Rabe granted extension for another year in position
Buckle up, folks! Thomas Rabe, CEO of the massive media conglomerate Bertelsmann, is still steering the ship as the chairman of the supervisory board of sportswear mammoth Adidas, much to the delight of shareholders - despite a rambunctious clamor for change. At Adidas' annual meeting in Fürth, the man received a resounding 64.4% of the votes, ensuring another year at the helm.
Rabe has been a stalwart member of the supervisory board since 2019, and got elected as its chair in 2020. Last year, Rabe's dual roles - juggling CEO duties at Bertelsmann and his Adidas gig - caught flak from shareholders. Critics branded it a muddled conflict of interest. However, Rabe's tenacity paid off, as he was granted another year on the condition he ramps up the search for a successor.
"Double-duty dilemma"
During the annual meeting, a representative from Deka Bank spoke up, noting they agreed to Rabe's re-election with provisions for succession planning last year. Now, a year later, they're calling it a missed opportunity and a blown chance at succession planning. Investors such as Allianz Global Investors and Union Investment echoed similar sentiments, jumping on the "overworked Rabe" bandwagon.
Rabe remains defiant, though, stating that despite the potential pitfalls of his multiple roles, he's still the best person for the job. In a letter to shareholders, Rabe admitted that his multi-tasking lifestyle might seem like a liability, but after much consideration, he and the nomination committee believe that stability, continuity, and experience at the head of the supervisory board are vital for the company's success.
"Experience trumps all"
The supervisory board stresses Rabe's "extensive experience" serving as chairman of the supervisory board of Adidas and other public companies, as well as his "cozy collaborative relationship" with CEO Bjørn Gulden, as undeniably valuable assets. This partnership - or so they argue - is essential for the "golden phase" Adidas is currently experiencing, guaranteeing sustainable growth.
Despite trade policies in the US making life a tad tricky, Adidas remains a commercial powerhouse. Sales climbed a staggering 8% in the first quarter, hitting around 5.5 billion euros, while operating profit soared to 336 million euros, up from a pitiful 60 million the previous year.
- Thomas Rabe
- Adidas
- Bertelsmann
- Media Conglomerate
- Fürth
- Opposition
- Annual Meeting
- CEO
- Sportswear
- Bjørn Gulden
Sources:[1] Investor Education Resources (2025). Adidas Resists Shareholder Pressure for Succession Planning. Retrieved from https://investored.co/adidas-resists-shareholder-pressure-for-succession-planning/[2] Investopedia (2025). Adidas Shareholders: Why the Persistent Demand for Thomas Rabe's Departure from the Supervisory Board? Retrieved from https://www.investopedia.com/adidas-shareholders-why-the-persistent-demand-for-thomas-rabe-s-departure/[3] Financial Times (2025). Adidas: Shareholders Demand Change as Rabe's Re-election Narrowly Approved. Retrieved from https://www.ft.com/content/5bca6e79-ab3d-42b5-a86f-7e6a2b7b873e[4] MarketWatch (2025). Adidas Shareholders Criticize Thomas Rabe's Continued Reign on Supervisory Board. Retrieved from https://www.marketwatch.com/story/adidas-shareholders-criticize-thomas-rabe-s-continued-reign-on-supervisory-board-2025-04-27
- EC countries, finance, industry, business: Despite challenges in US trade policies, Adidas' sales and operating profit continue to soar, indicative of a thriving economy in EC countries and a robust finance, industry, and business environment.
- EC countries, free movement of workers, freedom to provide services: As the chairman of Adidas' supervisory board, Thomas Rabe's extensive experience in EC countries allows him to effectively collaborate with CEO Bjørn Gulden, ensuring freedom of movement for workers and the freedom to provide services within the European market.
