Adidas appoints rival Puma's chief as new CEO

German apparel manufacturer Adidas announced Tuesday it has appointed rival firm Puma's chief Bjorn Gulden as its new CEO and member of the executive board.

Gulden, 57, the CEO of Puma since 2013, had served as Adidas' senior vice president of apparel and accessories from 1992 to 1999.

Earlier, he was the chief executive of Danish jewelry brand Pandora, and held positions in Europe's largest footwear retailer Deichmann, Rack Room Shoes, and Helly Hansen.

The Norwegian was a professional player for Nurnberg in Germany's Bundesliga, and for Bryne and Stromsgodset in the Norwegian Premier League. He also played handball for Haslum in Norway's first league.

"Bjørn Gulden brings almost 30 years of experience in the sporting goods and footwear industry. As a result, he knows the industry extremely well and draws on a rich network in sport and retail ... As CEO of Puma, he re-invigorated the brand and led the company to record results," Adidas Chairman of the Supervisory Board Thomas Rabe said in a statement.

Gulden will start his new position on Jan. 1. The decision ends months of uncertainty as CEO Kasper Rorsted and the firm's supervisory board mutually agreed in August that he will leave the company as of Nov. 11.

Rabe thanked Rorsted for his achievements at Adidas, saying he strategically repositioned the company.

"In North America, the world's largest sporting goods market, Adidas has doubled its sales ... strengthened its leadership position in sustainability and increased diversity, equity, and inclusion throughout the company."

Both Adidas and Puma are based in the Bavarian town of Herzogenaurach.