The Adidas Group's chief executive, Herbert Hainer, said at the company's shareholders meeting on May 7 that it has appointed Perella Weinberg Partners as an adviser. The move comes after reports of interest by activist hedge funds. Southeastern Asset Management (SAM), which owns just over 3 percent of Adidas, has a track record of pushing for changes at European companies, and other funds have reportedly been sniffing at Adidas. However, the company says it has not been approached by any activist investors. After it had to issue profit warnings and saw its shares tumble last year, the German company mapped out another five-year expansion plan in March and it performed well in the first quarter. The share price has rallied this year, aided by share buy-backs. Some investors still voiced skepticism at the meeting but the board easily gained support in shareholder votes.

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