Co-CEO Runs Away from Running Shoe Company
On Running announces Leadership Shakeup, CFO to Take Sole CEO Role
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Important changes are underway at Swiss running shoe company On, with a restructuring of its leadership team announced Tuesday. The move involves a change in the co-CEO structure.
Martin Hoffmann Appointed Sole CEO
Marc maurer, after 12 years with On, will depart to pursue other opportunities, the company said in a statement. The company did not specify a reason for the departure.
Martin Hoffmann, currently co-CEO and CFO, will assume the role of sole CEO. Hoffmann and Maurer had jointly led the company since its initial public offering (IPO) in 2021.
Search for New CFO Underway
Maurer will remain in his current position until June 30, 2025, to ensure a smooth transition. During this period, Hoffmann will continue to serve as CFO while the company searches for a replacement.
On also announced several other personnel appointments within the organization.
The company assured that founders David Allemann and Caspar Coppetti, serving as Executive Co-Chairmen, and Olivier Bernhard, as Executive Board Member, will maintain their roles in overseeing product development.
As is typical for the company, which has tennis star Roger Federer as an investor, the situation involves complex financial arrangements.
Upon leaving his active role, Maurer will relinquish his Class B shares. Following the annual general meeting scheduled for May 22, 2025, he will no longer be a party to the shareholder agreement.
Stock Reacts to News
The On founders acquired 36% of Maurer’s Class B shares. The remaining 64%, consisting of 10,520,820 shares, will be proposed for conversion into Class A shares at the upcoming general meeting.
Investors reacted negatively to the announcement. Shares of On Holding decreased by more than 2% following the news.
The associated Press contributed to this report.
on Running Leadership Shakeup: Your questions Answered
This article provides a complete overview of the recent leadership changes at On Running, the Swiss running shoe company, answering key questions adn providing insights into the company’s future.
What Major Changes Are Happening at On Running?
On Running is undergoing a significant leadership restructuring. This involves a shift in the co-CEO structure, with Martin Hoffmann, currently co-CEO and CFO, taking on the role of sole CEO. This transition was announced on Tuesday.
Who is Leaving On Running, and Why?
Marc Maurer, who has been with On for