(CercleFinance.com) – The adidas share price soared by more than 22% on the Frankfurt Stock Exchange on Friday, the German press mentioning the name of the current boss of Puma as a possible successor to Kasper Rorsted.
Business publication ‘Manager Magazin’ reports on its website that Puma chief executive Björn Gulden, 57, is expected to join the group at the end of the year to succeed Kasper Rorsted, 60 and now on the job. departure.
Manager Magazin clarifies that Gulden, due to the existence of a non-competition clause, will not be able to be hired directly, which means that Harm Ohlmeyer, the chief financial officer of adidas, would be called upon to take over the management. of the group initially, on an interim basis.
“Given the strong reputation Mr. Gulden enjoys and the visible impact he has had on Puma, this appointment would be positive news,” RBC analysts said.
‘adidas desperately needs a new strategy, a renewed focus on execution, a reshaping of its product offering (particularly in lifestyle footwear) and a proper repair of its business in China’, explains the design office.
“We believe Mr. Gulden is able to deliver all of this, although it is unlikely to happen overnight,” adds RBC.
With a fall of more than 55% since the start of the year, the title adidas accuses one of the worst weekly performances of the DAX index in 2022.
According to RBC, the 22% surge in its share price today mainly corresponds to redemptions of short positions, due to the negative market sentiment surrounding the stock.
“In our view, this reaction is disproportionate and the action is called upon to erase a large part of its gains,” he warns.
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