Adidas Executive Board Member Steps Down as Core Team Shrinks

Adidas AG is shrinking its top executive ranks as Martin Shankland steps down as head of global operations and leaves the company, Adidas said in a statement Monday.

Shankland, 52, will give up his board seat on Aug. 10, according to the statement, after 27 years with the brand. Parts of his responsibilities will be taken over by Chief Financial Officer Harm Ohlmeyer, with Adidas’ executive board reduced to four members from then on.

Shankland joined Adidas’ executive board in 2019 under former Chief Executive Officer Kasper Rørsted — just before the German company landed in a series of ...