Yahoo Finance

Rabe, chief executive of both German media group Bertelsmann and its listed broadcasting arm RTL Group has chaired the supervisory board of the German sporting-goods company since 2020. Adidas shareholders are set to vote on a proposal for him to remain in the role for an additional year at the annual meeting scheduled for Thursday. Investment firm Allianz Global Investors said Wednesday it will oppose the resolution to re-elect Rabe as Adidas’s chair as the company hasn’t presented a successor to the chair or a convincing succession plan.