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On Holding Appoints New Co-CEOs Amid Sales Concerns

3/25/2026

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Summary

Story summary

On Holding AG will appoint co-founders David Allemann and Caspar Coppetti as co-CEOs on May 1, replacing Martin Hoffmann.
The leadership change follows a forecast of slower sales growth.
Shares fell 6.34% to an intraday low of 35.69.
Martin Hoffmann will remain as an advisor until March 2027.
The company intends to unify its strategic direction and pursue growth against Nike and Adidas.

History

Historical Context

Founded in 2010 by Olivier Bernhard, David Allemann, and Caspar Coppetti, On Running gained recognition with its innovative CloudTec cushioning technology. By 2023, the company reported nearly $2 billion in revenue, reflecting a competitive landscape where brands like Nike dominate. As On seeks strategic unity amid a 6.34% share drop, its future direction may reshape its market position against industry giants.

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Story summary

On Holding AG will appoint co-founders David Allemann and Caspar Coppetti as co-CEOs on May 1, replacing Martin Hoffmann.
The leadership change follows a forecast of slower sales growth.
Shares fell 6.34% to an intraday low of 35.69.
Martin Hoffmann will remain as an advisor until March 2027.
The company intends to unify its strategic direction and pursue growth against Nike and Adidas.

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