Global sportswear giant Adidas is reportedly considering Egyptian billionaire Nassef Sawiris, co-owner and chairman of Aston Villa F.C., as the next chairman of the company, a move that could place one of Africa’s wealthiest business figures at the helm of the German brand.
Sawiris, currently estimated to be worth about $9.3 billion, has been a member of Adidas’s supervisory board since 2016 and was appointed deputy chairman in 2025. Through his investment vehicle, NNS Group, he holds roughly a 6–7 percent stake in the company, making him one of its largest shareholders.
If appointed, the Egyptian tycoon would replace German executive Thomas Rabe, who has chaired the Adidas supervisory board since August 2020.
Sawiris has built a broad portfolio that spans global industry and sport. In addition to co-owning Premier League side Aston Villa, he holds a stake in Madison Square Garden Sports, the company that owns the NBA’s New York Knicks and the NHL’s New York Rangers.
He is also the son of late Egyptian industrialist Onsi Sawiris and leads a powerful business dynasty alongside his brother Naguib Sawiris. Nassef Sawiris previously headed the fertiliser and chemicals giant OCI Global, one of the world’s largest nitrogen fertiliser producers, and has been restructuring the company after selling assets worth more than $11 billion in recent years.
Reports also indicate that Sawiris has been expanding his investment ambitions in North America, with plans to channel up to $50 billion into United States infrastructure projects through newly consolidated investment vehicles in Abu Dhabi.
The potential leadership change comes as Adidas navigates a challenging financial outlook. The company recently projected operational profits of around €2.3 billion ($2.7 billion) for 2026, below analyst expectations and suggesting a margin of under 9 percent. Adidas now expects its operating margin to exceed 10 percent only by 2028.
Investor concerns have been heightened by global economic uncertainty, rising tariffs affecting manufacturing hubs in Southeast Asia, and geopolitical tensions in the Middle East that have disrupted retail operations in parts of the region.
Meanwhile, Adidas confirmed that its chief executive, Bjørn Gulden, who took over leadership of the company in 2023 during a period of corporate turmoil, has had his contract extended until 2030. Rabe praised Gulden’s leadership, saying the CEO had driven a “successful turnaround” of the company over the past three years.
Should Sawiris take the chairmanship, the move would mark a rare moment of African leadership at the top of one of the world’s largest sportswear brands, further strengthening the Egyptian billionaire’s influence across global business and sport.