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Sportswear Brand On Holding Names Co-Founders as CEOs
Co-founders Allemann and Coppetti take over as co-CEOs to lead On Holding's next growth phase amid softer U.S. consumer sentiment and tariff challenges, company said.
- On Wednesday, Swiss sneaker maker On Holding named co-founders David Allemann and Caspar Coppetti as co-CEOs effective May 1, replacing Martin Hoffmann after his five-year tenure as chief executive.
- During his 13-year tenure, Hoffmann guided the company through its 2021 IPO and rapid expansion, helping the brand generate revenues exceeding $3.8 billion in 2025.
- The company also promoted Scott Maguire to president and chief operating officer on Wednesday, expanding his role overseeing product research, development, and technology.
- This leadership transition occurs as the 15-year-old firm navigates a shifting tariff landscape and soft consumer sentiment, with U.S.-listed shares declining about 14% so far this year.
- Hoffmann will advise until March 2027 to assist the transition, while co-founder Olivier Bernhard continues spearheading performance product initiatives as the firm enters its "next growth phase.
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CEO Martin Hoffmann leaves the company surprisingly after thirteen years. His mega-wage is expected to fall later.
·Zürich, Switzerland
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Coverage Details
Total News Sources20
Leaning Left3Leaning Right2Center6Last UpdatedBias Distribution55% Center
Bias Distribution
- 55% of the sources are Center
55% Center
L 27%
C 55%
R 18%
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