Swiss athletic footwear company On Holding announced Wednesday that co-founders David Allemann and Caspar Coppetti will assume leadership as co-chief executives beginning May 1, taking over from current CEO Martin Hoffmann.
Hoffmann is departing the company following a five-year tenure as chief executive. The outgoing CEO will continue serving in an advisory capacity until March 2027, according to the company’s announcement.
On Holding stated it plans to “implement a leadership structure that sustains close connectedness across the organization, unifying strategic intent, innovation, product, brand, and commercial execution.”
The executive transition follows the company’s announcement earlier in March forecasting slower annual revenue growth, news that led to a significant decline in the company’s stock price.
