The donation was agreed upon this morning between top adidas executives and several staff members after reports of racial disparity within the company made headlines over the past few days. The large donation is a $100 million improvement from the $20 million amount that was announced just yesterday by the company. The large sum will be distributed over the next five years and will include university scholarships for black employees. The company also aims to increase its number of black employees by committing to filling 30% of all new positions in the U.S. with black and Latino talent.
Sources have told FN that adidas has yet to apologize for its purported racist behavior. Keep it locked here as the story unfolds.