On Holding Appoints Co-Founders as New Co-CEOs

Leadership Reshuffle at On Holding

Footwear company On Holding has announced a significant change in its executive leadership, appointing its co-founders, David Allemann and Caspar Coppetti, as new co-Chief Executive Officers. The transition is scheduled to take effect on May 1.

Overview of the Transition

The appointment follows the departure of Martin Hoffmann, who served as CEO for five years. Hoffmann will transition to an advisory role within the company through March 2027. This move is part of a new leadership structure aimed at unifying strategic intent across the organization from innovation to commercial execution.

Market Context and Recent Performance

This executive change comes shortly after On Holding issued a forecast for muted annual sales growth earlier in the month. That projection led to a notable drop in its share price. The new leadership will be tasked with navigating the company's future growth strategy amidst current market concerns.

Summary

The leadership transition to its original founders marks a pivotal moment for On Holding. Investors and the market will be closely watching how this new co-CEO structure impacts the company's performance and strategy, especially in light of the recent sales forecasts.

FAQ

Q: Who are the new CEOs of On Holding?
A: Co-founders David Allemann and Caspar Coppetti will become co-CEOs.

Q: When does the CEO change take effect?
A: The leadership change is effective from May 1.

Q: Why is the current CEO leaving?
A: Martin Hoffmann is leaving after completing a five-year term as CEO but will remain an adviser.

Source: Investing.com