NEW YORK – Adidas-Salomon’s takeover of Reebok International has been completed, and Reebok chief executive officer Paul Fireman will step aside.
The move was expected since Reebok has been building up its senior management. Last month, Reebok named company veteran Paul Harrington president and chief executive officer of the Reebok brand.
Fireman acquired the North America distribution rights to Reebok in 1979 and as guided its growth for the last 25 years, although he stepped down a few times only to return again. He will remain as an advisor, Adidas said Tuesday. The newly combined company has sales of $11.8 billion, making it the world’s second largest athletic company after Nike.
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