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News of 'revolutionary plan' Adidas AG turns out to be fake, no new co-CEO

By Caitlyn Terra

16 Jan 2023

Business

Adidas AG CEO Bjorn Gulden - image via Adidas AG

Confusion on Monday morning: reports of a 'revolutionary plan' at Adidas AG turn out to be fake. An Adidas AG spokesperson confirmed to FashionUnited that the press release in question had not been sent out by the German sportswear company.

On Monday morning, a press release was picked up by various media outlets which read that Adidas AG appointed a new co-CEO, Vay Ya Nak Phoan - a former Cambodian garment worker and the leader of a union. In addition, the press release stated that Adidas was going to start paying wages and severance payments to Cambodian garment workers as well as set up a guarantee fund for the entire production chain. Adidas AG was also said to have signed a Pay Your Workers agreement.

It is unclear at present who sent out the release.

This article was originally published on FashionUnited.NL. Translating and editing into English: Veerle Versteeg.

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