Footwear brand On has announced that its co-CEO Marc Maurer will depart from the company and Martin Hoffmann, the co-CEO and CFO, will step into the role of sole chief executive officer on July 1.
Maurer has been a part of the company for 12 years and will transition to an advisory role following his departure.
After his departure from the brand, Marc Maurer’s Class B voting shares will be wound down, and he will no longer be a part of the shareholders’ agreement between the company and partners following the company’s annual shareholders meeting.
He is set to acquire 36% of his Class B shares, and the rest are set to be converted into Class A ordinary shares at the next annual general meeting.
Maurer commented in a statement: “Back in 2013, I could never have imagined my time at On being such an intense, challenging, successful, and gratifying experience, for which I’m eternally grateful to my partners and the team.
“After a dozen years, it is time for me to move on, staying true to the culture and explorer spirit we have built.”
As part of its future plans, the footwear brand has also made a number of new C-suite appointments.
Katarina Berg, a former chief human resources officer at Spotify, will step into the role of chief people officer, and Scott Maguire, Dyson’s COO, was named the next chief innovation officer.
Additionally, Adib Sisani, former global head of communications at Axel Springer, will take on the position of chief communications officer, and Craig Jones, former Levi Strauss executive, joins the team as chief supply chain officer.
The company aims to drive innovation and its global presence with its new leadership appointments.
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