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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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Habib Becomes 1st Lebanese Player in Open Era to Play in Grand Slam Men's Singles Draw

FILE - Hady Habib of Lebanon, right, walks by Carlos Alcaraz of Spain during the men's singles tennis competition, at the 2024 Summer Olympics, Saturday, July 27, 2024, in Paris, France. (AP Photo/Andy Wong,File)
FILE - Hady Habib of Lebanon, right, walks by Carlos Alcaraz of Spain during the men's singles tennis competition, at the 2024 Summer Olympics, Saturday, July 27, 2024, in Paris, France. (AP Photo/Andy Wong,File)
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Habib Becomes 1st Lebanese Player in Open Era to Play in Grand Slam Men's Singles Draw

FILE - Hady Habib of Lebanon, right, walks by Carlos Alcaraz of Spain during the men's singles tennis competition, at the 2024 Summer Olympics, Saturday, July 27, 2024, in Paris, France. (AP Photo/Andy Wong,File)
FILE - Hady Habib of Lebanon, right, walks by Carlos Alcaraz of Spain during the men's singles tennis competition, at the 2024 Summer Olympics, Saturday, July 27, 2024, in Paris, France. (AP Photo/Andy Wong,File)

Hady Habib isn't likely to find anything too daunting at the Australian Open now that he's become the first Lebanese player in the Open era to reach a Grand Slam men's singles draw.
He advanced through three rounds of the qualifying at Melbourne Park, winning his third match in a tiebreaker 6-4, 3-6, 7-6 (8) over Clement Chidekh of France on Thursday to secure a place in the main draw of the tournament that starts Sunday, The Associated Press reported.
It continued a rapid rise for Habib, who made his Olympic debut last year in Paris, running into eventual silver medalist Carlos Alcaraz, a four-time major winner, in the first round. It was two sets he'll long remember.
Late last year, he made history at Temuco, Chile by becoming the first ATP Challenger Tour champion from Lebanon.
The 26-year-old Habib was born in Houston, Texas and moved to Lebanon as a young child, learning how to play there. He returned to the US to pursue a pro career and feels now like he's representing of the spirit of Lebanese people.
“I know it’s just a sport, but I feel like representing Lebanon and sacrificing all the things I had to do to get here, it kind of resembles how our nation has fought back,” Habib told Australia's SBS News this week.
His personal success has come at a difficult time during the war between Israel and Hezbollah.
“Every morning, I was waking up during that challenging time, I was contacting all my family members, my friends, making sure they’re okay,” Habib told SBS News. "My heart’s just shattered to see what’s happening to our country and people.
“It was a hard time mentally for me, knowing that you can’t do anything to help, but I’m glad things are calming down now. Hopefully we’ll find some peace.”
Habib's first-round opponent at Melbourne Park will be determined when all qualifiers are inserted into the main draw.