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Puma named Arne Freundt its new CEO effective immediately, as rival Adidas confirmed that Bjorn Gulden would be its next head.
Puma had announced last week that Gulden — who served as head of the sportswear maker since 2013 — would be leaving at the end of 2022, with Freundt initially set to start Jan. 1.
Gulden is now set to take over at Adidas from Jan. 1 after current CEO Kasper Rorsted mutually agreed with the supervisory board that he would step down and leave the company after Nov. 11, 2022.
Adidas has been looking since August for a successor to Rorsted, who had initially planned to leave his post in 2023.
Adidas said its chief financial officer, Harm Ohlmeyer, would lead the company in the interim until Dec. 31, 2022.