Global sportswear giant Adidas is reportedly considering Egyptian billionaire Nassef Sawiris as the next chairman of the company, potentially replacing current chairman Thomas Rabe.
The move would elevate Sawiris, already a major shareholder and deputy chairman of the German sportswear brand, to one of the most influential leadership roles within the company.
Major Shareholder and Longtime Board Member
Sawiris has served on Adidas’s supervisory board since 2016 and became deputy chairman in 2025. Through his investment vehicle NNS Group, he holds roughly a 7 percent stake in Adidas, making him one of the company’s largest individual shareholders.
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The Egyptian billionaire, currently estimated to have a net worth of about $9.3 billion, is one of Africa’s most prominent global investors and part of the influential Sawiris business family.
He is the son of late Egyptian industrialist Onsi Sawiris, founder of the family’s industrial empire.
Global Sports Investments
Beyond his stake in Adidas, Sawiris has built a strong presence in international sports investments.
He holds a stake in Madison Square Garden Sports, the parent company of major U.S. sports franchises including the New York Knicks and the New York Rangers.
Sawiris is also the chairman and co-owner of Aston Villa FC, one of the leading clubs in the English Premier League.
His growing influence in global sports has positioned him as a key figure bridging investment, business, and athletics.
Leadership Transition at Adidas
If confirmed, Sawiris would succeed Thomas Rabe, who joined the Adidas supervisory board in 2019 and became chairman in 2020.
The potential leadership change comes as Adidas continues its strategic turnaround under CEO Bjørn Gulden, who took over in 2023 and recently had his contract extended until 2030.
Rabe credited Gulden with restoring stability to the company after a challenging period.
“With his long-standing experience, his deep understanding of our industry, his strong leadership, and his clear focus on quality growth, Bjørn Gulden drove the successful turnaround of Adidas during the past three years,” Rabe said in a statement.
Investor Concerns Over Profit Outlook
Despite progress in its turnaround strategy, Adidas recently issued a 2026 profit forecast that fell short of investor expectations.
The company projected an operational profit of about €2.3 billion ($2.7 billion) for the year, below analyst forecasts that had anticipated stronger growth and a margin above 10 percent.
Adidas now expects to achieve profit margins exceeding 10 percent only by 2028, reflecting the challenges facing global sportswear brands.
Global Headwinds Affecting the Industry
Investors are increasingly cautious due to global economic pressures and geopolitical tensions affecting supply chains and retail operations.
Many sportswear companies rely heavily on manufacturing hubs in Vietnam and other parts of Southeast Asia, making them vulnerable to rising tariffs and trade restrictions, particularly from the United States.
Regional conflicts have also disrupted retail operations in parts of the Middle East, where Adidas temporarily closed stores after security incidents, including damage to one outlet in Israel.
Expanding Global Investment Strategy
Sawiris has also been expanding his investment footprint globally. Reports indicate he has explored plans to invest up to $50 billion in infrastructure projects in the United States, part of a broader push into North American markets.
At the same time, he is restructuring his chemicals and fertilizer empire through OCI Global, which has sold assets worth more than $11.6 billion in recent years as it moves toward the dissolution of its Dutch-listed operations.
If he ultimately becomes chairman of Adidas, the appointment would mark another major milestone for one of Africa’s most influential business leaders and further strengthen the company’s ties to global investors.
Source: Accra Street Journal
Last Updated on March 14, 2026 by Samuel Kwame Boadu
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Samuel Kwame Boadu is a Ghanaian media entrepreneur and storyteller with a passion for amplifying urban voices and uncovering everyday truths. He is the Editor-in-Chief and Founder of Accra Street Journal, a dynamic digital platform dedicated to capturing the pulse of Ghana’s capital—its people, culture, challenges, business, sports and innovations.
