Observed Signal · Mar 25, 2026 · Hiring · Source: Manager Magazin · Impact: 1/5 · Sentiment: Neutral
On founders retake leadership after CEO exit
Swiss sports-shoe maker On announced an unexpected leadership change: CEO Martin Hoffmann will step down and take a planned break, triggering a share price decline of over 11% intraday and further falls the following day. Co-founders David Allemann and Caspar Coppetti will jointly assume the CEO role and share the board chairmanship; co-founder Olivier Bernhard will remain on the executive board focusing on athlete partnerships. Scott Maguire is being promoted to COO to run the value chain from development to global distribution. Frank Sluis will join as CFO on May 1, recruited from Ahold Delhaize. On reported more than CHF 3 billion revenue in 2025 and a gross margin above 60%; media reports say Hoffmann’s reported compensation rose about 242% to nearly CHF 10 million last year.
Company-level leadership changes at a consumer brand may affect that advertiser's marketing and investor perception but have limited direct impact on the broader AdTech/MarTech industry.
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Key Takeaways & Evidence Grounding
- On CEO Martin Hoffmann will step down, with the handover effective May 1, 2026.
- Co-founders David Allemann and Caspar Coppetti will share the CEO role and the chair of the supervisory board.
- On's stock fell more than 11% intraday after the CEO announcement and continued declining the next day.
- Scott Maguire will be promoted to Chief Operating Officer (COO); Frank Sluis will join as CFO on May 1, recruited from Ahold Delhaize.
- On reported over CHF 3 billion revenue in 2025 and a gross profit margin above 60%; Hoffmann's reported pay rose ~242% to nearly CHF 10 million.
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Recent verified developments and strategic activity across this market segment.
On splits commercial leadership; CCO Britt Olsen exits
On, the activewear brand, is reorganizing its commercial leadership this September by splitting the commercial chief role into two positions. Chief Commercial Officer Britt Olsen will leave at the end of September after a transition period. Rebecca Cai, currently general manager of APAC, is promoted to chief global markets officer effective Sept. 1 and will continue to run APAC until a successor is named. Alice Delahunt, who has worked at Ralph Lauren and Burberry, will join On as chief customer officer on Sept. 7 and will oversee DTC channels and customer loyalty. The changes follow earlier leadership moves at On and come amid continued sales growth — Q1 net sales rose 14.5% year over year to 831.9 million Swiss francs — and raised profit guidance and an outlook for at least 23% net sales growth in 2026.
On boosts revenue and margins in Q2 2026
Swiss sportswear maker On continued growth in Q2 2026 and improved profitability. Reported revenue rose 13.5% year-on-year to CHF 850.3m (FX-adjusted +21.6%). Direct-to-consumer (DTC) sales increased 26.0% to CHF 388.4m (FX-adjusted +34.3%), reaching a 45.7% share of total sales. Asia-Pacific led regional growth (+43.1% to CHF 170.5m; FX-adjusted +54.7%). Gross profit rose 20.6% to CHF 555.7m and gross margin expanded 3.9 percentage points to 65.4%. Adjusted EBITDA increased 23.5% to CHF 168.1m (margin 19.8%), and net profit was CHF 105m versus a CHF 40.9m loss a year earlier. For the first half, revenue was CHF 1.682bn (up 14.0%; FX-adjusted +24.0%). On raised its full-year gross margin target to at least 65.0% and reiterated an adjusted EBITDA margin guidance of 19.5–20.0%.
Ströer CEO Udo Müller Becomes Sole Leader
Ströer co-founder Udo Müller (63) is again leading the Cologne-based out-of-home advertising group alone as of early April 2026 after long-time co-CEO Christian Schmalzl (52) relinquished his mandate effective 31 March. Schmalzl had shared the boardroom with Müller for nine years and led operations since 2012; in January he announced he would not extend his contract beyond 2028. Ströer also announced that CFO Henning Gieseke (55) will leave the company on 4 June, with an advanced search underway for a successor who will additionally assume COO responsibilities. Müller, the founder and major shareholder, said the reorganised leadership and structure aim to accelerate Ströer's transformation into a platform business and exploit efficiency and margin opportunities from artificial intelligence.
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