Adidas appoints boss of rival Puma as chief executive after Ye fallout

Adidas has appointed Bjorn Gulden, the CEO of rival Puma, as its new chief executive (Evan Agostini/Invision/AP)

Adidas has appointed Bjorn Gulden, the CEO of rival Puma, as its new chief executive.

He will take over the German sportswear brand in January as the company weathers the fallout from its split with the rapper formerly known as Kanye West.