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2016 Olympics

Adidas Extends CEO Contract Amid Succession Plan

Adidas has extended the contract of long-serving Chief Executive Herbert Hainer until 2017 but will work with him on a succession plan to ready the world's second-biggest sportswear company for "generation change".Hainer has been CEO since March 2001, making him the longest serving boss among German blue-chip companies, prompting speculation over whether he might think about stepping down as he approaches his 60th birthday in July.Igor Landau, chairman of the Adidas supervisory board, said he was pleased Hainer had agreed to extend his contract, which runs until 2015, even though the board would have liked him to stay on even longer."Today's decision gives us sufficient time to ensure a smooth transition at the helm of the Adidas Group and to optimally facilitate the process of succession for the company," he said in a statement."We will continue to pursue the generation change which has already been initiated within the Group's management team, thus preparing the company for the next ...

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  1. Brazil's Rio State Moves to Seize Manguinhos Refinery Lands

    Rio de Janeiro's state government moved Tuesday to seize lands belonging to small Brazilian oil refiner Refinaria de Petroleos de Manguinhos SA (RPMG4.BR), with plan...

  2. Brazil Refiner Manguinhos Trading Halted on Eminent Domain Spat

    Small Brazilian oil refiner Refinaria de Petroleos de Manguinhos SA (RPMG3.BR, RPMG4.BR) asked local stock regulators to halt trading while it investigated comments ...

  3. Analysis: Brazil's economy goes from "great" to "good"

    By Brian Winter and Stuart GrudgingsBRASILIA/RIO DE JANEIRO (Reuters) - Brazil's long boom appears to be over.After several dynamic years that saw it earn a reputati...

  4. ANALYSIS-Is it really worth hosting major sporting events?

    By Peter Apps, Political Risk CorrespondentLONDON, Sept 23 (Reuters) - India's Commonwealth Gamesdebacle shows the risk of such high profile sporting events --there ...

  5. ANALYSIS-Germany gains from export grip on emerging markets

    By Paul CarrelBERLIN, Sept 6 (Reuters) - Germany's engineering excellenceand grip on emerging markets have helped generated record growthand will help protect it fro...

  6. Cement output for Brazil's CSN may peak in '10-CEO

    By Silvio CascioneSAO PAULO, (Reuters) - Cia. Siderurgica Nacional , Brazil's largest diversified steel group, will probably increase cement output by 36 percent thr...

  7. Even after CARD Act, airline reward cards still fly high

    By now, credit card companies were supposed to have ended the golden age of generous travel rewards.Before major provisions of the CARD Act took effect in February, ...

  8. ANALYSIS-Brazil's biggest lender faces election heat

    By Stuart Grudgings and Guillermo Parra-BernalRIO DE JANEIRO/SAO PAULO (Reuters) - Brazil's national development bank has gone from savior to suspected villain as it...

  9. ANALYSIS-Surge in Chinese investment reshapes Brazil ties

    By Stuart GrudgingsRIO DE JANEIRO (Reuters) - Surging Chinese investment in Brazil is reshaping ties between the countries as companies seek to secure resources and ...

  10. Impact of Olympics on Brazilian Businesses

    Cabana Cachaca CEO Matti Anttila on how businesses in Brazil will profit from the Olympics.

  11. Chicago Blues

    Eric breaks down why Obama couldn't bring the Olympics to the 'Windy City'.

  12. Chicago Blues

    Eric breaks down why Obama couldn't bring the Olympics to the 'Windy City'.

  1. Mexico's Carlos Slim Advances TV Goals With Rights to Olympics

    As Mexico's Congress moves toward giving the government increased powers to rein in the telecommunications muscle of billionaire Carlos Slim, Mr. Slim is accumulatin...

  2. America Movil Granted Broadcast Rights to 2014, 2016 Olympics

    Mexican telecommunications giant America Movil SAB (AMX, AMX.MX) said Thursday the International Olympic Committee has granted it exclusive broadcast rights for Lati...

  3. Helping Athletes Make Career Transitions

    FOXBusiness.com’s Kate Rogers on how athletes can plan for making career transitions after they retire from the sports world.

  4. In search of business, Europe changes tone in Latin America

    Five years ago during the closing speeches of a summit in Chile, Spain's king told Venezuelan President Hugo Chavez to "shut up" in an exchange that epitomized the f...

  5. Brazil Refinery Manguinhos Shares Fall 70% in Trading Restart

    Preferred shares of Brazil's Refinaria de Petroleos de Manguinhos S/A (RPMG3.BR, RPMG4.BR) tumbled 70% after trading was restarted late Tuesday amid Rio de Janeiro s...

  6. Brazil's Rio State Rejects Manguinhos Offer, Will Expropriate Land

    Brazil's Rio de Janeiro state plans to seize all lands belonging to oil refiner Refinaria de Petroleos de Manguinhos SA (RPMG3.BR, RPMG4.BR) as part of a revitalizat...

  7. Brazil Refinery Manguinhos Shares Remain Suspended on Bovespa

    Rio de Janeiro's state government moved Tuesday to seize lands belonging to small Brazilian oil refiner Refinaria de Petroleos de Manguinhos SA (RPMG4.BR), according...

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