The recently-appointed chief executive of sportswear giant Adidas has stated that its board is now “ideally set up” following a widespread shakeup.

Speaking to shareholders at the German company‘s annual shareholder meeting, Kasper Rorsted has hailed the new “experienced, international and diverse team” after appointing the first female board member since 1993 and ousting two long-standing executives.

Rorsted took over from former chief executive Herbert Hainer last October.

Last week the global retailer and sportswear manufacturer  reported larger-than-expected first quarter sales, outpacing its largest rival Nike.

Since his appointment last year, Rorsted has replaced 16-year veteran finance chief Robin Stalker with Harm Ohlmeyer, as well as promoting head of human recources Karen Parkin to the executive board and Gil Steyaert to global operations chief.

This reflects a pledge made to shareholders today to do more to promote women within Adidas, citing the current number of two out of 24 top managers as insufficient.

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