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Adidas North America president to step down in July

Adidas North America president Mark King
Adidas North America president Mark King speaking to investors. Photo: Adam Pretty/Getty Images

Adidas North America president Mark King is stepping down from his post on July 1 after four years in the position in a "seamless transition," the company announced Tuesday.

The big picture: As ESPN's Darren Rovell notes, Adidas grew by 35% in the North American market in 2017, surpassing Under Armour to become the United States' second-largest athletic retailer. According to the WSJ's Sara Germano, King's departure "has nothing to do" with Adidas' role in the ongoing college basketball corruption scandal.