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Adidas shareholders re-elect chairman Thomas Rabe

May 16, 2024 at 09:43 am EDT

(Reuters) - A majority of Adidas shareholders backed the re-election of chairman Thomas Rabe on Thursday, securing his role for another year, until 2025 when the German sportswear brand will appoint a new chair.

Prominent proxy advisory firm Institutional Shareholder Services (ISS) had recommended in April that investors vote against Rabe's reappointment due to his additional roles at other companies.

(Reporting by Linda Pasquini and Helen Reid; Editing by Kirsten Donovan)

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Thomas Hermann Rabe

Thomas Hermann Rabe is a German businessperson who has been at the helm of 17 different companies. Dr. Rabe occupies the position of Chairman-Supervisory Board at adidas AG, Chairman & Chief Executive Officer for Bertelsmann Management SE and CEO & Chairman-Management Board at Bertelsmann SE & Co. KGaA, Non-Executive Chairman for Prinovis GmbH & Co. KG, Chairman for Penguin Random House LLC, Chief Executive Officer & Executive Director at RTL Group SA and Chairman and CEO at Bertelsmann Corporate Services India Pvt Ltd. (which are all subsidiaries of Bertelsmann SE & Co. KGaA). Thomas Hermann Rabe is also on the board of Bertelsmann Digital Média Investments SA (former President), Penguin Random House Ltd. and Advanced Customer Relation S à R L. In the past he was Member-Supervisory Board at Symrise AG, Chairman of Ricordi & C SpA, Chairman at Arist Education System LLC, Chief Financial Officer for Bertelsmann SE & Co. KGaA Director at Bertelsmann, Inc. Chairman-Supervisory Board of Gruner + Jahr GmbH, Chairman-Supervisory Board of arvato AG, Chairman-Supervisory Board at BMG Rights Management GmbH, Chairman at Relias LLC and Chief Executive Officer at Bertelsmann Publishing Group, Inc. (which are all subsidiaries of Bertelsmann SE & Co. KGaA), Chairman-Supervisory Board of Druck- & Verlagshaus Hüpke & Sohn Weserland-Verlag GmbH, Chief Financial Officer & Director at Clearstream International SA, Director-Controlling at Treuhandanstalt, Associate for White & Case LLP (Belgium) and Head-Acquisitions at Beteiligungsgesellschaft Neue Zeitung mbH & Co. KG. Thomas Hermann Rabe received a doctorate from Universität zu Köln and an MBA from RWTH Aachen University.

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