‘Planned hiatus’ for On chief executive
Athletic footwear and apparel group On has announced that chief executive, Martin Hoffmann, is to leave the role.
It said Mr Hoffmann had chosen to step down after five years as chief executive and 13 years as chief finance officer, holding both posts concurrently. “Martin has decided to take a planned hiatus and pursue philanthropic interests,” the company said. He will leave on May 1.
On had already announced that Frank Sluis will join on May 1 to become its new chief finance officers. Now it has announced that co-founders David Allemann and Caspar Coppetti will serve as joint-CEOs following Martin Hoffmann’s departure. At the same time, Scott Maguire is being promoted to chief operations officer.
Commenting on Martin Hoffmann’s decision, Mr Coppetti said: “It is difficult to put into words how impactful Martin has been. From our early days, through a landmark IPO, his commitment to our culture and financial discipline has been instrumental. It has been a privilege to work alongside him and we are deeply grateful for his partnership, his outstanding contribution and the legacy he has built.”
