Subhinder Singh Prem, managing director of Adidas Group India, has called it a day on Monday after spending 17 years with the company. The German sportswear maker replaced him with expatriate Claus Heckerott, who took over with immediate effect.
Also quitting along with Prem is the group’s COO Vishnu Bhagat. Adidas abolished this position and appointed Frederic Serrant as sales director for the group. He takes over from 1 April.
Prem, who was in the US, said over the phone, "I worked in the same company for 17 years, I have reached the tipping point and it’s time to go". He did not divulge his future plans. However, it is widely expected he will start a venture of his own.
(Source: Business Standard)