BERLIN — German sportswear giant Adidas has named the next chairman of its supervisory board. Deputy chairman Thomas Rabe will take the place of Igor Landau after the 75-year-old steps down this spring. Rabe will start in the role after the company’s annual general meeting in Bavaria in mid-May.
Rabe joined the Adidas supervisory board in May 2019, but has no shortage of experience with large companies, having been chief executive officer of German media conglomerate Bertelsmann since 2012. It is one of the largest media companies in the world, with subsidiaries like publisher Penguin Random House, music label BMG and media company RTL. Bertelsmann has more than 110,000 employees, almost double the 57,000 staffers at Adidas.
Rhoxanne Villaseñor is keeping her family's "rh" theme alive.
Like her brother, Rhuigi of Rhude Villaseñor has a background in design. She launched The Rhod, a jewelry brand named after her father, several years ago, around the same time that her brother launched his cult-favorite streetwear brand. The Rhod, Villaseñor said, was mainly costume jewelry made of brass with gold plating. She has since elevated to fine jewelry, working strictly with gold and diamonds for Rhox, her newest jewelry venture. "As I’m getting older, it was important for me to be true to myself," said Villaseñor. "The way we marketed and branded Rhox, it’s more studio-artistic. I’m using fruits to reflect body parts and shapes because I want people to visualize themselves without comparing [themselves to] another person. The images are vibrant, bright, and it’s a reflection of me and my spirit. I want to bring joy to people — I do it for a living." 🍋
Victoria’s Secret has been sold – and Les Wexner is stepping aside.
Parent company L Brands sold 55 percent of the intimates giant to Sycamore Partners for $525 million. The deal includes the Pink brand. Victoria’s Secret will become a private company, while L Brands’ remaining operation, Bath & Body Works, will become a standalone public firm.
Following the transaction, Wexner – who has come under fire over the last 18 months for Victoria’s Secret failure to adapt to changing market conditions, his relationship with Jeffrey Epstein and alleged sexual harassment at the company, will transition from chairman and chief executive officer to chairman emeritus of the company he founded.
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