Adidas has launched an investigation into allegations of large-scale bribery involving senior staff in China. The investigation follows a whistleblower complaint received on June 7, which accused senior managers of embezzling millions of euros, nepotism, and bullying. The allegations include claims that a second senior manager received kickbacks from external providers, including millions in cash and physical items such as real estate. Adidas shares fell 4% on Monday following the news of the investigation. The Financial Times reported that the investigation spans three continents and was revealed on June 16.
"That included more than 9.5 million yuan paid by well-known sports media personality Duan Xuan, who has reportedly faced bribery charges from prosecutors. Duan has disappeared from the public eye over the last few months in connection with Liu’s corruption case, Caixin has…
Adidas shares fall on investigation into China corruption allegation - Reuters https://t.co/SvAgrS38iY
Adidas shares fall on investigation into China corruption allegation https://t.co/CnoiowT86i
🔵 ADIDAS SHARES FALL ON INVESTIGATION INTO CHINA CORRUPTION ALLEGATION Adidas shares dropped 4% on Monday after the German sportswear brand said it was investigating allegations of corruption in China after receiving an anonymous letter. Full Story via Reuters on PiQ Suite -… https://t.co/GoRd0KEtsF
Adidas Investigates Allegations of Bribery in China https://t.co/2RHB3zaNti
Adidas is investigating potential corruption in China after receiving an anonymous letter exposing potential compliance violations by some employees https://t.co/T9vtjulILR
Adidas probes alleged ‘large-scale bribery’ by staff in China: Report - Aljazeera https://t.co/sQzLPLWXWD via @AJEnglish
🇩🇪 Adidas investigates bribery allegations in China https://t.co/mJINj5qMny
Adidas investigates bribery allegations in China, FT says https://t.co/6ROId4X1pD
"#Adidas has launched an investigation into allegations of large-scale bribery in #China after the world’s 2nd-largest sportswear maker received a whistleblower complaint that accused senior staff of embezzling “millions of euros” https://t.co/ehd8VvFpg8
Adidas is investigating allegations of bribery at its China business following a whistleblower complaint, the FT said https://t.co/eW4SaKvH0x
Adidas has launched an inquiry into allegations that some of its senior staff in China were involved with large-scale bribery involving “millions of euros”, according to a Financial Times (FT) report. Read more: https://t.co/5KUaxyL55b https://t.co/A2yZDFVULd
Adidas investigating corruption allegations in China: FT https://t.co/VrcV9yUhb6 https://t.co/RZUVUzIyoP
🔥 Adidas has launched an investigation into allegations of large-scale bribery in China after the sportswear maker received a whistleblower complaint on June 7 accusing senior staff of embezzling “millions of euros”, nepotism and bullying. The anonymous letter (right pic),… https://t.co/7Md52pBRO8
"Adidas investigates bribery allegations in China" (FT) "Whistleblower complaint ... alleged staff received kickbacks from external providers ... A 2nd senior manager ... is accused of having received “millions in cash from suppliers, & physical items such as real estate” $ADS https://t.co/O9PbO7pQq1
🚨🚨Scoop 🚨🚨 Adidas investigates bribery allegations in China after senior manager accused of ‘embezzling millions of euros’. joint work across 3 continents (Asia, Europe, UK) with @EleanorOlcott, Wang Xueqiao and Daniel Thomas https://t.co/gKFGhkL08o
Adidas investigates bribery allegations in China, FT reports https://t.co/G4QB284Szz https://t.co/xBLljMYKJn
Adidas investigates bribery allegations in China https://t.co/W0Fa1DzHqg