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By Cristina Roca
Adidas AG (ADS.XE) said Monday that executive board member Eric Liedtke is stepping down at the end of the year, and named Brian Grevy his successor.
The German sporting-goods company said Mr. Liedtke, who is in charge of global brands, informed the supervisory board that he wouldn't be available to hold his post for the entire next strategic cycle starting in 2021.
"To ensure his successor can already be fully integrated into developing the adidas strategy beyond 2020, the supervisory board has, in mutual agreement with Eric Liedtke, approved the termination of his appointment," adidas said.
His successor Mr. Grevy will return to the company from Maus Freres SA-owned clothing brand Gant, where he is currently chief executive. He had previously worked at adidas and has over 20 years of experience in sporting goods and fashion, the company said.
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(END) Dow Jones Newswires
October 21, 2019 10:39 ET (14:39 GMT)
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