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Adidas CEO's Concern for Europe's Political Failure

"From the viewpoint of business I have no fear, but politically-speaking, I am very concerned that Europe is not capable of solving its problems," Rorsted said in an interview with Die Welt.
By
  • Reuters

BERLIN, Germany — Adidas chief executive Kasper Rorsted is very worried about the effects of Europe's failure to solve its problems, German newspaper Die Welt reported.

European Union leaders are grappling with the challenges of migration, a lingering euro crisis, the rise of right-wing populist parties and the wider ramifications of Britain's vote to the leave the bloc.

"From the viewpoint of business I have no fear, but politically-speaking, I am very concerned that Europe is not capable of solving its problems," Rorsted said in an interview with the daily newspaper published on Saturday.

"Europe's inability to solve problems will punish us even more strongly this year," the chief executive said, without being more specific. Germany, France and the Netherlands are all set to hold elections this year.

Rorsted also warned that Europe and Britain will suffer if the country's exit from the EU results in trade restrictions.

However, the Adidas chief executive was relaxed about the political prospects of the United States under President Donald Trump.

"At the end of the day, I believe Trump is a businessman. A couple of things may occur that displease us, but this will not be catastrophic," the newspaper quoted Rorsted as saying.

By Andreas Cremer; editor: Alexander Smith.
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