After Adidas announced its new CEO, it immediately gained $1 billion in value. It’s easy to forget how important one human being can be.
You’ve probably never heard of Kasper Rorsted – I hadn’t until Monday – but he turns out to be a highly valuable man. Adidas announced that he would be leaving his job as CEO of Henkel, a German consumer packaged goods maker, and would become CEO of Adidas in October, replacing CEO Herbert Hainer. Henkel immediately lost $2 billion of market value on the news, and Adidas, a smaller company, immediately gained $1 billion – on a day when German stocks overall lost ground. All because of one man planning to change jobs nine months from now.