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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
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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.

 

 

 

 

 

 

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Kyrgios’ Return to Grand Slam Tennis Is in Doubt Ahead of the Australian Open

Nick Kyrgios of Australia and Novak Djokovic of Serbia (not pictured) hit a return against Michael Venus of New Zealand and Nikola Mektic of Croatia during their men's doubles match at the Brisbane International tennis tournament in Brisbane on January 1, 2025. (AFP)
Nick Kyrgios of Australia and Novak Djokovic of Serbia (not pictured) hit a return against Michael Venus of New Zealand and Nikola Mektic of Croatia during their men's doubles match at the Brisbane International tennis tournament in Brisbane on January 1, 2025. (AFP)
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Kyrgios’ Return to Grand Slam Tennis Is in Doubt Ahead of the Australian Open

Nick Kyrgios of Australia and Novak Djokovic of Serbia (not pictured) hit a return against Michael Venus of New Zealand and Nikola Mektic of Croatia during their men's doubles match at the Brisbane International tennis tournament in Brisbane on January 1, 2025. (AFP)
Nick Kyrgios of Australia and Novak Djokovic of Serbia (not pictured) hit a return against Michael Venus of New Zealand and Nikola Mektic of Croatia during their men's doubles match at the Brisbane International tennis tournament in Brisbane on January 1, 2025. (AFP)

Nick Kyrgios’ planned return to Grand Slam tennis at the Australian Open is in doubt after he sustained an abdominal injury and was forced to withdraw from an exhibition with Novak Djokovic this week.

The 2022 Wimbledon finalist, sidelined with wrist and knee injuries since the 2022 US Open, said in an Instagram post Wednesday that an ultrasound scan had revealed an abdominal strain and "unfortunately (I) won’t be able to play my good friend (Djokovic) this Thursday."

He said he’d be resting and doing everything possible to be ready for the Australian Open, which starts Sunday at Melbourne Park.

The mercurial Australian, who has become a popular commentator during his lengthy stints on the injured list, made his competitive comeback last week at Brisbane, where he played one singles match and partnered with Djokovic in two doubles matches.

Djokovic and Kyrgios won their opening doubles match, a crowd-pleasing, fist-pumping affair by both players at Pat Rafter Arena before a 6-2, 3-6, 10-8 loss to Nikola Mektic of Croatia and New Zealander Michael Venus.

Australian Open tournament director Craig Tiley remained confident Kyrgios would play at the year's first major.

"I think it’s just precautionary, that’s the word we’ve got from him," Tiley said Wednesday, responding to questions about the potential absence of the star Australian. "Nick’s not the only one not doing some of their pre-planned matches over the next few days. There’s no concerns ahead of the Open."