Adidas CEO rejects shareholder calls to sell Reebok

The chief executive of German sportswear company Adidas rejected calls by some shareholders on Thursday to sell the loss-making Reebok brand, saying he was confident that a restructuring plan would restore the unit to profitability.

CEO Kasper Rorsted made the comments at the Adidas annual general meeting after two shareholders asked how much more time the company would give the struggling brand.

"We are not going to sell Reebok because we are still very confident of the strategic position of the brand," Rorsted told the AGM. "We are convinced the measures we are taking are going to be successful."

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Rorsted also said Adidas has several interested parties for ice hockey brand CCM. The sale is still in initial stages.