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Adidas CEO seeks more time for new strategy after two flops

But investors want faster change at the top as the company starts search for his successor
Thursday, March 26, 2015 - 05:50

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Mr Hainer will present on Thursday a five-year financial plan aimed at wresting back market share from Nike and protecting its soccer franchise from upstarts such as Under Armour. Adidas is predicting a profit margin of 6.5-7 per cent this year, compared to 14 per cent at Nike.

Berlin

SINCE 2008, Adidas chief Herbert Hainer has abandoned two long-term strategy plans after failing to deliver the promised results. This week, Mr Hainer expects to offer a third such plan - and says he deserves two more years to get it on track.

Mr Hainer, a 60-year-old

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