Adidas Chief Raises Sales and Earnings Targets

Adidas's new chief executive, Kasper Rorsted, aims to lower the company's profit margins.

Under Kasper Rorsted's leadership, Adidas plans to achieve a 20 to 22 percent profit growth in the next three years.

Adidas's sales rose by 14 percent to €19.3bn last year.

Investors are not optimistic about Kasper Rorsted's ability to improve Adidas's profitability.

Kasper Rorsted was previously known for boosting profitability at P&G, a German consumer goods company.

Mary Barra took over as GM's first male CEO in 2013.

GM faced a $4M ignition switch failure in 2014.

Under Mary Barra's leadership, GM has expanded into the European market.

GM invested $500M in Uber to set itself up for future success.

General Motors' profitability was a result of avoiding aggressive business cuts.

General Motors Bankruptcy and Recovery

The late-2000s recession triggered GM's bankruptcy, marking a significant turning point for the company.
GM had been incurring annual losses, primarily due to high pension costs, unprofitable car designs, and expensive production facilities.
Sales dramatically declined during the Great Recession, leading to GM's bankruptcy declaration.
In 2009, the US government intervened by investing nearly $50 billion in GM, acquiring a 60% ownership stake.
This intervention was crucial due to GM's importance as a major US manufacturer and employer.
The Obama administration appointed a new board of directors to facilitate GM's restructuring and return to profitability.
New CEO Fritz Henderson implemented drastic measures, including asking over 400 of the 1,300 executives to resign.
Cost-cutting measures involved reducing car dealers, workforce, and eliminating entire divisions like Pontiac and Saturn.
These changes enabled GM to achieve 15 consecutive profitable quarters by the end of 2013.
The US government sold its remaining shares in GM at the conclusion of the recovery phase, marking the end of its involvement.

Learn about Adidas's increased sales and profit targets under new CEO Kasper Rorsted and the efforts to improve profitability in comparison to rival Nike. Explore the strategies implemented by Mr. Rorsted to boost margins and make an impact on the German sportswear group.