Adidas makes a change at the top

Bjørn Gulden, who has led Puma SE for nine years, will become CEO of Adidas AG beginning on Jan. 1. He replaces Kasper Rorsted who is stepping down following a series of disappointing quarterly results and a reduction in the company's forecast. Adidas CFO Harm Ohlmeyer will serve as interim CEO through the balance of the year.