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On Holding AG ( (ONON) ) has shared an update.
On Holding AG announced on March 25, 2026 that it will overhaul its leadership structure as it enters a new growth phase following a record 2025 in which annual net sales topped CHF 3 billion and gross margins hit new highs. Effective May 1, 2026, co-founders David Allemann and Caspar Coppetti will become Co-CEOs while remaining Executive Co-Chairmen, with co-founder Olivier Bernhard continuing in an executive board role and Scott Maguire promoted to President & COO overseeing the full value chain.
The move formalizes tighter alignment between founder-led strategy and day-to-day execution and follows the planned departure of CEO and former CFO Martin Hoffmann, who will step down on May 1, 2026, transition responsibilities to incoming CFO Frank Sluis and remain an adviser through March 2027. In connection with his exit, Hoffmann’s 16.25 million Class B voting shares are slated to be converted into 1.625 million Class A ordinary shares at the company’s annual general meeting on May 28, 2026, simplifying the capital structure and ending his participation in the founders’ shareholders’ agreement.
The most recent analyst rating on (ONON) stock is a Buy with a $43.00 price target. To see the full list of analyst forecasts on On Holding AG stock, see the ONON Stock Forecast page.
Spark’s Take on ONON Stock
According to Spark, TipRanks’ AI Analyst, ONON is a Neutral.
The score is driven primarily by solid underlying financial quality (high margins and profitability) and a strong, confidence-leaning 2026 outlook from the latest earnings call. Offsetting these positives are weak technical positioning (trading below key moving averages) and a demanding valuation (high P/E with no dividend yield), which raise execution sensitivity if growth or margins soften.
To see Spark’s full report on ONON stock, click here.
More about On Holding AG
On Holding AG is a premium global sportswear brand founded in 2010 in the Swiss Alps, specializing in high-performance footwear, apparel and accessories for running, outdoor, training, all-day activities and tennis. The company is known for its CloudTec and LightSpray technologies, operates in more than 90 countries, and targets the fast-growing market for innovative, performance-led athletic products.
Average Trading Volume: 5,290,554
Technical Sentiment Signal: Sell
Current Market Cap: $13.19B
For an in-depth examination of ONON stock, go to TipRanks’ Overview page.