Rajkumar, who joined Adidas in 2020 from BNP Paribas to replace Karen Parkion, decided not to renew her contract, which runs to the end of the year, the company said in a statement.

Her position on the executive board will be terminated on July 15, it added.

Roland Auschel and Brian Grevy left the sportswear maker's board in March, marking the first high-level departures since Gulden took over as CEO of Adidas at the beginning of 2023.

(Reporting by Alexander Huebner, Writing by Friederike Heine; Editing by Madeline Chambers)