Ex-Adidas CEO Rorsted Gets €16 Million Payout for Stepping Down

Adidas AGwill pay former Chief Executive Officer Kasper Rorsted about €16 million ($16.9 million) as part of a termination agreement after he was ousted following months of turmoil at the German sneaker brand.

The payout includes €12 million as severance, €3.6 million as compensation for a non-compete clause over the coming 18 months and another €300,000 to cover Rorsted’s contract for the period from November 12 to December 31 of last year, according to the company’s 2022 annual report.

Kasper Rorsted

Photographer: Simon Dawson/Bloomberg

Rorsted agreed to step down as CEO four years before his contract was set to expire in 2026. It ...