Adidas launches investigation into Ye conduct claims

Adidas launches investigation into Ye conduct claims


Kanye West at an event announcing a partnership with Adidas on June 28, 2016 in Hollywood, California.

Getty Images

Adidas said it is investigating accusations made by staff relating to the conduct of the musician Ye during his partnership with the German sportswear brand and the response of senior company figures.

The company said in a statement late Thursday: “It is currently not clear whether the accusations made in an anonymous letter are true. However, we take these allegations very seriously and have taken the decision to launch an independent investigation of the matter immediately to address the allegations.”

It follows a Rolling Stone article published Tuesday with anonymous allegations that Ye showed pornographic and sexualized material to Yeezy staff during meetings and made sexualized remarks to female staff. CNBC has not independently verified the claims.

Rolling Stone also said a group of former workers had sent an anonymous letter to Adidas accusing senior leaders at the company of turning a “blind eye” to the behavior and taking “delayed action” over it. It reportedly called for a public apology to the team.

A representative for Ye was not immediately available for comment when contacted by CNBC.

Ye loses billionaire status after Adidas drops him

Adidas terminated its partnership with Ye, formerly known as Kanye West, in October. It said his recent comments and actions had been “unacceptable, hateful and dangerous.”

Gap and Foot Locker then said they would remove Yeezy products from their stores. Designer brand Balenciaga announced it was cutting ties with the rapper and producer the week before.

Adidas also said it did not tolerate hate speech or offensive behavior and was in ongoing conversations with employees about the events leading up to the end of the Ye partnership.



Source

Renewables to overtake coal and become world’s biggest source of electricity generation by 2025, IEA says
Business

Renewables to overtake coal and become world’s biggest source of electricity generation by 2025, IEA says

Wind turbines in the Netherlands. A report from the International Energy Agency “expects renewables to become the primary energy source for electricity generation globally in the next three years, overtaking coal.” Mischa Keijser | Image Source | Getty Images Renewables are on course to overtake coal and become the planet’s biggest source of electricity generation […]

Read More
Cramer’s lightning round: I can’t recommend Penn Entertainment right now
Business

Cramer’s lightning round: I can’t recommend Penn Entertainment right now

Penn Entertainment Inc: “Everybody’s in this darn business. … I do like Penn. They’re good guys, but I cant recommend the stock right now.” Symbotic Inc: “They’re a money-losing SPAC. We’re not recommending any money losers.” Tilray Brands Inc: “They and Canopy, if you want to own them, you can own either one. I’m not […]

Read More
Jim Cramer urges investors to exit crypto – ‘it’s never too late too sell’
Business

Jim Cramer urges investors to exit crypto – ‘it’s never too late too sell’

CNBC’s Jim Cramer on Monday told investors that they still have time to sell their cryptocurrency holdings. “You can’t just beat yourself up and say, ‘hey, it’s too late to sell.’ The truth is, it’s never too late to sell an awful position, and that’s what you have if you own these so-called digital assets,” […]

Read More