Adidas North America replaces Mark King
Adidas North America president Mark King is resigning after four years on top, the company said Tuesday.
He will be replaced on July 1 by Zion Armstrong, general manager. New Zealander Armstrong, 43, joined Adidas in 1998. He once ran track for New Zealand.
King led Adidas to the number two sportswear brand in the US behind Nike. In sneakers it is behind Nike and ahead of Jordan.
Adidas North America had $4.2 billion in sales in fiscal 2017, up 27 percent on 2016.
Auschel said King leaves "on excellent terms and as a close friend."
Adidas Executive Board member Roland Auschel said in a release. "We are very excited to promote Zion Armstrong to one of the most important roles in our company. He has been instrumental to our success over the last three years, co-leading adidas North America together with Mark King. "
The statement added: "Zion Armstrong's successful career with adidas spans many years and many countries. He first joined adidas New Zealand as Product Manager for Footwear in 1998 before moving to the adidas headquarters in Germany in 2002. From 2005 to 2014, Zion Armstrong held various leadership roles in Asia-Pacific including Managing Director adidas South Korea. Since 2015, he has served as General Manager of adidas North America. Zion Armstrong is an avid athlete and sports fan. He competed in the IAAF World Junior Championships and the Commonwealth Games and is a former New Zealand record holder for 400 meter hurdles."
A consultant and an Adidas executive have been accused of using Adidas money to recruit college hoops players, but the company said King, 59, is not leaving because of the case.
King will remain an advisor.