On Co-Founders Holding AG Announces Leadership Evolution to Power Next Phase of Global Growth
On Holding AG, the premium global sportswear brand listed on the NYSE under the ticker ONON, has unveiled a major update to its organizational structure as it prepares to accelerate into its next stage of global expansion, reinforcing its commitment to innovation, agility, and founder-led vision while scaling operations worldwide
A Strategic Shift Rooted in Growth Momentum
The announcement comes at a pivotal moment for On Holding AG, following a record-breaking performance in 2025 where the company surpassed CHF 3 billion in annual net sales and achieved its strongest-ever gross profit margins, solidifying its position as one of the fastest-growing premium sportswear brands globally
Built on a foundation of relentless innovation and a distinctive product philosophy, the company is now leveraging its strongest financial and brand position to move forward with a leadership structure designed to maintain speed, creativity, and operational excellence even as complexity increases with global scale
Founders Step Into Co-CEO Roles
Effective May 1, 2026, co-founders David Allemann and Caspar Coppetti will assume the roles of Co-Chief Executive Officers, while continuing to serve as Executive Co-Chairmen of the Board, marking a significant shift toward deeper founder involvement in day-to-day execution and strategic alignment
This move reflects a deliberate effort to directly connect long-term strategic vision with operational decision-making, ensuring that the entrepreneurial spirit and product-driven mindset that defined the company’s early success remain embedded at every level of the organization
Co-founder Olivier Bernhard will continue to play a central role in driving high-performance product innovation and athlete engagement as an Executive Member of the Board, maintaining a strong link between the brand’s technical excellence and its global athletic community
Aligning Strategy With Execution
The newly introduced structure is designed to unify key elements of the business—including innovation, product development, branding, and commercial operations—into a cohesive system that enables faster decision-making and greater cross-functional collaboration
By placing the founders at the operational helm, On Holding AG aims to preserve its hallmark agility while navigating the complexities of a rapidly expanding global footprint, ensuring that its product pipeline, brand storytelling, and consumer engagement strategies remain tightly aligned
David Allemann emphasized that the company’s decision to evolve its leadership structure comes at a moment of strength rather than necessity, highlighting the importance of proactively adapting to sustain momentum and remain competitive in an increasingly dynamic sportswear market
Transition of Longtime Leader Martin Hoffmann
As part of this transition, Martin Hoffmann will step down from his role as CEO effective May 1, 2026, concluding a remarkable 13-year tenure with the company, including five years as Chief Executive Officer and earlier service as Chief Financial Officer
During his leadership, Hoffmann played a critical role in transforming On Holding AG from a niche Swiss startup into a globally recognized, multi-billion-dollar brand, guiding the company through key milestones including its initial public offering and sustained international expansion
His contributions extended beyond financial management to include establishing the operational discipline and strategic framework necessary to scale the business while preserving its innovative DNA and brand identity
Following his departure, Hoffmann will take a planned hiatus to focus on philanthropic pursuits, while remaining connected to the company as an advisor through March 2027 to support a smooth transition
Leadership Continuity and Financial Transition
To ensure continuity in financial leadership, Frank Sluis will join the company as Chief Financial Officer on May 1, 2026, working closely with Hoffmann during the onboarding process to maintain stability and consistency in financial strategy and operations
Hoffmann’s transition also includes changes to his shareholding structure, with his Class B voting shares entering a sunset process and a proposed conversion into Class A ordinary shares to be presented at the company’s Annual General Meeting scheduled for May 28, 2026
These measures reflect a broader effort to align governance structures with the company’s evolving leadership model and long-term strategic objectives
Scott Maguire Elevated to President & COO
In another key leadership move, Scott Maguire has been promoted to President and Chief Operating Officer, taking on responsibility for overseeing the company’s entire value chain, including research and development, manufacturing, marketing, global commercial operations, and technology
Maguire brings more than two decades of experience in engineering, design, and global brand leadership, and has been instrumental in shaping On Holding AG’s innovation ecosystem and operational infrastructure
His leadership has driven the development and scaling of breakthrough technologies such as LightSpray™ and advanced Superfoam innovations, which have played a critical role in differentiating the brand’s product offerings in a competitive market
Strengthening the Product-Led Operating Model
The promotion of Scott Maguire underscores the company’s commitment to a product-led operating model, where innovation and performance remain at the core of its growth strategy
By integrating engineering excellence with design and execution, the company aims to deliver a seamless and compelling consumer experience across all touchpoints, from product development to retail and digital engagement
This approach aligns with the broader organizational shift toward a unified “connected flywheel” model, where every aspect of the business works in harmony to drive growth, brand loyalty, and market leadership
A Unified Vision for Global Expansion
The leadership changes are part of a carefully developed strategic roadmap created collaboratively by the founders, senior leadership, and the Board of Directors, outlining the company’s path toward achieving its next level of global scale
This roadmap emphasizes the importance of maintaining entrepreneurial speed and innovation while building the infrastructure and capabilities required to support a larger and more complex organization
By aligning leadership roles with strategic priorities, On Holding AG is positioning itself to navigate future challenges and opportunities with confidence and clarity
Preserving Culture While Scaling
One of the central goals of the new structure is to preserve the unique culture that has been a defining element of the company’s success, characterized by a passion for performance, a commitment to innovation, and a strong sense of purpose
As the company continues to expand into new markets and product categories, maintaining this culture will be critical to sustaining its competitive advantage and fostering long-term growth
The increased involvement of the founders in operational leadership is expected to reinforce these cultural values and ensure that they remain deeply embedded in the organization
Looking Ahead to the Next Chapter
With a strengthened leadership team, a clear strategic roadmap, and a proven track record of innovation and growth, On Holding AG is entering its next chapter from a position of strength
The transition to a co-CEO model, combined with enhanced operational leadership and continued focus on product excellence, reflects a forward-looking approach designed to balance ambition with discipline
As the company continues to push the boundaries of performance sportswear and expand its global footprint, it remains committed to delivering exceptional products, inspiring its community, and shaping the future of the industry
Through these strategic changes, On Holding AG is not only preparing for growth but actively redefining how a modern, innovation-driven sportswear brand can scale while staying true to its roots and vision.
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