Kasper Rorsted, the CEO of Adidas, has announced his sudden departure.

According to a business statement issued today, Rorsted and the Adidas AG Supervisory Board mutually agreed that the Danish leader will step down in 2023. (Aug. 22). Since Rorsted took over as CEO of the German shoe and sportswear firm in 2016, Adidas has more than quadrupled its North American sales and increased online sales fivefold.

The report is surprising given that Adidas renewed Rorsted’s contract through 2026 in 2020. The firm is presently looking for a replacement.

“Several external forces have drastically impacted our operations in recent years.” It took a lot of work to overcome these obstacles. This is why allowing a restart in 2023 is the correct thing to do—for both the firm and for me personally,” Rorsted said in a statement.