A bang for the two big German sporting goods companies Puma and Adidas: Puma boss Björn Gulden could switch to the larger Franconian local rival of all things. Adidas announced on Friday afternoon that the group was in talks with Gulden as a possible successor to Kasper Rorsted, who was still boss. Puma had previously announced that after nine years at the top, Gulden would not renew his contract, which expired at the end of the year.
“I think now is the right time for Puma, for my successor and for me to leave the company,” Gulden commented on his departure. “I still have a lot of energy for an operational role for the next five to ten years , but that would have been too long for Puma.” The Supervisory Board appointed a member of the Management Board Arne Freundt to Gulden’s successor. His contract, which begins on January 1st, runs for four years.
Adidas looking for a boss
Adidas has been weak for quite some time. The head of the supervisory board, Thomas Rabe, has been looking for a boss for some time. Because at the end of August, Adidas CEO Kasper Rorsted announced his departure for 2023 after the company had lowered its annual forecasts a month earlier. Only recently, the Puma rival surprised again with a profit warning. Puma, on the other hand, has developed extremely robustly in recent years.
Puma shares gave up their gains in the afternoon before the weekend and recently lost almost six percent. Adidas titles, on the other hand, jumped and at times went up more than 22 percent. “Manager Magazin” had previously reported on Gulden’s possible move to Adidas.
Since Gulden had a strong influence on Puma during his tenure, the step is negative for the group, commented analyst Piral Dadhania from the Canadian bank RBC. However, Puma is in good shape and developing energetically. The expert believes that not much will change in the short to medium term in view of the strategic goals created by Gulden.
Arne Freundt becomes the new Puma boss
The designated Puma boss Freundt has worked for the sporting goods group for more than ten years, and the 42-year-old manager has been on the board since June 2021. With Freundt, a recognized leader of the company has been won as CEO, said Héloïse Temple-Boyer, Chair of the Supervisory Board, according to the company press release. “He is the designated candidate and the ideal choice to continue Puma’s very successful path and to further accelerate the company’s momentum.” Looking at Gulden, she added that he had put Puma back on the road to success and ensured “that he leaves the company in top form.” (dpa)