Adidas Chairman Thomas Rabe Re-elected Until 2025

Logo of Adidas brand is displayed on the store in the center of Warsaw, Poland, January 4, 2024. REUTERS/Kacper Pempel/File Photo Purchase Licensing Rights
Logo of Adidas brand is displayed on the store in the center of Warsaw, Poland, January 4, 2024. REUTERS/Kacper Pempel/File Photo Purchase Licensing Rights
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Adidas Chairman Thomas Rabe Re-elected Until 2025

Logo of Adidas brand is displayed on the store in the center of Warsaw, Poland, January 4, 2024. REUTERS/Kacper Pempel/File Photo Purchase Licensing Rights
Logo of Adidas brand is displayed on the store in the center of Warsaw, Poland, January 4, 2024. REUTERS/Kacper Pempel/File Photo Purchase Licensing Rights

A majority of Adidas shareholders backed the re-election of chairman Thomas Rabe at the company's annual general meeting on Thursday, securing his role for a fifth year, with the German sportswear brand set to appoint a successor in 2025.

Prominent proxy advisory firm Institutional Shareholder Services (ISS) had recommended in April that investors vote against Rabe's reappointment due to what it argued was an "excessive" number of roles at other companies, Reuters reported.

Adidas said Rabe's reappointment would serve to ensure a smooth handover of the chairmanship, which he has held since 2020. Rabe is also CEO of German broadcaster RTL Group and CEO of media conglomerate Bertelsmann.

"The succession planning for the Supervisory Board as a whole and for myself as Chairman of the Supervisory Board are paramount for me," Rabe said in a letter to shareholders ahead of the AGM.

Adidas' executive pay was also approved in a shareholder vote, although Norway's sovereign wealth fund, the fifth-biggest shareholder in Adidas, voted against for the second year in a row.

 

 

 

 

 

 



Macron: Decision to Dissolve Parliament Should Not Spoil Olympics Mood

French President Emmanuel Macron attends a flags ceremony at Borgo Egnazia Golf Club San Domenico during the G7 Summit hosted by Italy in Apulia region, on June 13, 2024 in Savelletri. (Photo by Tiziana FABI / AFP)
French President Emmanuel Macron attends a flags ceremony at Borgo Egnazia Golf Club San Domenico during the G7 Summit hosted by Italy in Apulia region, on June 13, 2024 in Savelletri. (Photo by Tiziana FABI / AFP)
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Macron: Decision to Dissolve Parliament Should Not Spoil Olympics Mood

French President Emmanuel Macron attends a flags ceremony at Borgo Egnazia Golf Club San Domenico during the G7 Summit hosted by Italy in Apulia region, on June 13, 2024 in Savelletri. (Photo by Tiziana FABI / AFP)
French President Emmanuel Macron attends a flags ceremony at Borgo Egnazia Golf Club San Domenico during the G7 Summit hosted by Italy in Apulia region, on June 13, 2024 in Savelletri. (Photo by Tiziana FABI / AFP)

French President Emmanuel Macron said on Thursday he did not think his decision to dissolve parliament and call for new parliamentary elections would spoil the mood ahead of next month's Olympic Games.

"French people have no wish for the Olympic Games to not take place," said Macron, speaking at a G7 summit in Italy.

The snap election, called at very short notice by Macron after his centrist alliance was trounced by the far-right National Rally in Sunday's European Parliament ballot, has upended French politics, with parties rushing to field candidates and prepare platforms.

Opinion polls project that Marine Le Pen's RN could, for the first time, top the June 30 and July 7 vote but without enough seats to win an absolute majority and govern on its own.

The RN has been kept out of power for decades by voters mistrustful of the far right and its radical policies, as well as by a decades-old consensus among mainstream parties to join forces against it.
But under the helm of Le Pen and new party leader Jordan Bardella, they have worked to detoxify their image and woo a growing number of voters across the board.