Date: 03-07-2008
Uli Becker, Reebok’s chief marketing officer, has been named the president and CEO of the company in order to reinvigorate the struggling athletic brand in key U.S. markets. He will replace Paul Harrington, who was appointed CEO just two years ago. Adidas, which bought Reebok for a staggering $3.8 billion in 2006, has reported a slide in its sales performance owing to a decline of 12% in sales of the Reebok brand segment. The Adidas brand itself, on the other hand, has showed tremendous turnover, with revenue shooting up 19.6% last year. Many industry observers have noted that Reebok is facing problems in marketing, and some attribute the brand’s dismal performance to the product lineup and content which Reebok offers. The company is now pinning its hopes on Becker to use his marketing prowess to rev up the brand’s sales.
