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Key Takeaways
- On Holding, a Swiss sportswear company, said it would transition to a single CEO setup. Marc Maurer will depart as co-CEO on June 30th after 12 years.
- Calling the change a "leadership evolution," the sneaker company said Maurer "has decided to depart On to embark on a new chapter in his professional life."
- Co-CEO and CFO Martin Hoffmann will become On Holding's sole CEO on July 1.
Swiss sportswear manufacturer On Holding (ONON), announced Tuesday it would transition to a single CEO setup. Marc Maurer will depart as co-CEO on June 30th after 12 years.
Calling the change a "leadership evolution," the sneaker company said Maurer "has decided to depart On to embark on a new chapter in his professional life."
On reported that Maurer would remain in his position until the end June to ensure a “smooth transition”, with Martin Hoffmann, Co-CEO and Chief Financial Officer, taking over the role of sole CEO from July 1. Maurer continues to advise the firm’s partners and board of directors until March 2026.
Profits in 2024 will be based on record net sales.
On’s fourth-quarter earnings and revenues exceeded estimates last month as sales increased in every market worldwide. The company, which was listed on the New York Stock Exchange in 2021, and is owned in part by tennis legend Roger Federer posted record net sales in 2024 of 2.32 billion Swiss francs and profit of 274.1 million Swiss francs.
"We will miss Marc as a confidant and business partner, but we also respect his decision that this is a good moment for him to move on to the next chapter in his professional life," On co-founder and Executive Co-Chairman Caspar Coppetti said.
On Holding shares fell about 2% on Tuesday afternoon. They have lost around one-fifth their value since the beginning of the year.
