Jan 18, 2016
Henkel CEO quits after 8 years, reviving talk of Adidas move
Jan 18, 2016
Henkel said on Monday its Chief Executive Kasper Rorsted would leave at his own request at the end of April, ending his eight-year reign at the German consumer goods group and reviving speculation that he could join Adidas.
Henkel board member Hans Van Bylen, 54 and responsible for Henkel's Beauty Care business, will take over as Henkel CEO on May 1, the company said, adding it would name a successor for Van Bylen in due course.
The news of Rorsted's departure pushed down shares in Henkel 4 percent to 89.75 euros, their lowest level in more than three months, while Adidas shares rose 2.5 percent to 86.12 euros.
There has been repeated speculation that Rorsted, 53, could be a candidate to replace Adidas CEO Herbert Hainer, whose contract ends in March 2017. Adidas was not immediately available for comment.
Since Rorsted took over in 2008, shares in the maker of Schwarzkopf hair care products and Loctite glue have more than tripled, while its annual sales have grown by more than a third to around 18 billion euros estimated for 2015.
"The change in the Management Board at this point in time will assure that the newly appointed CEO Hans Van Bylen will lead the development of and will be responsible for the next strategy cycle 2017-2020 which will be communicated by end of this year," Henkel said.
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