Adidas Extends CEO's Contract

Athletic apparel and sporting goods maker said Thursday CEO Herbert Hainer will stay in his job beyond 2010.

FRANKFURT (AP) -- Adidas Chief Executive Herbert Hainer will stay in his job beyond 2010, the athletic apparel and sporting goods maker said Thursday.

Hainer, who has been CEO since March 2001 and with Adidas AG since 1987, had his contract extended, the company announced at its annual general meeting. The length of the extension was not revealed.

Herzogenaurach-based Adidas is the world's second largest sportswear company by sales after Nike Inc.

Its shares were closed up nearly 1 percent at euro25.28 in Frankfurt.

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