Adidas postpones 2020 AGM
In line with official government guidelines, Adidas has announced plans to postpone its annual general meeting until further notice.
The event was scheduled to take place on 14 May in Bavaria, Germany.
Adidas said the health and safety of its employees, shareholders, consumers and partners continues to be its number one priority.
“This postponement will inevitably delay all resolutions from the AGM, including the resolution on the appropriation of retained earnings, which is a mandatory legal requirement for the payment of the proposed dividend of € 3.85 per share,” said the sportswear brand.
“Despite the temporary challenges posed by the coronavirus outbreak, the company remains fully confident about its future growth prospects thanks to its healthy fundamentals and its strong positioning within an attractive industry.”
The AGM will be held within the legally required timeframe, with the exact date to be communicated in due course.
The sporting goods manufacturer has temporarily closed all Adidas and Reebok stores in Europe, North America and Canada until the end of March.
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