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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

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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