On Holding (ONON) announced an update to its organizational structure. Co-founders David Allemann and Caspar Coppetti will serve as co-CEOs. Scott Maguire is promoted to president and COO. Following a 13-year tenure at On, Martin Hoffmann has chosen to step down as CEO. Effective May 1, David Allemann and Caspar Coppetti will assume the roles of Co-CEOs, while continuing as executive co-chairmen of the Board. Hoffmann will step down from his roles effective May 1, then ensure an onboarding and transition to Frank Sluis, who joins as new CFO on May 1. Martin will then remain an advisor through March 2027.
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