Adidas names Henkel's Rorsted as new CEO

Adidas has named Kasper Rorsted as its new chief executive to replace long-standing boss Herbert Hainer.

Rorsted, a "passionate runner, skier and football fan", had announced his departure from German consumer goods group Henkel earlier on Monday.

With Hainer agreeing to step down from the executive board on 30 September, Rorsted has a difficult job replicating his success.

Under the control of the departing 61-year-old, the sportswear manufacturer's sales have tripled, net income quadrupled and the value of the company has soared from €3bn to €18bn.

Chairman Igor Landau said Rorsted, whose restructuring of Henkel has helped its shares more than triple since he took over in 2008, was "the perfect candidate".

"He has extensive international management experience, having held positions with high-calibre companies such as Oracle, Compaq and Hewlett Packard. For eight years, Kasper Rorsted has very successfully headed up Henkel, a DAX company that just like the adidas Group is known for its growth, internationality and sustainability."

Adidas shares were up 6.5% to €89.47 by 1345 GMT on Monday.