BERLIN — Herbert Hainer is to remain chief executive officer of Adidas through to March 2017, the German sporting goods company said Tuesday.


The Adidas Supervisory board extended Hainer’s contract and mandate as ceo by another two years beyond 2015.


Hainer has helmed management at the Herzogenaurach-based company since March 2001. During his tenure, the value of the company has increased more than fivefold, Igor Landau, chairman of the supervisory board pointed out.


He added the decision to extend Hainer’s contract will give Adidas “sufficient time to ensure a smooth transition at the helm of the Adidas Group and to optimally facilitate the process of succession for the company.”