On Holdings is transitioning to a single CEO structure, with current Co-CEO and CFO Martin Hoffmann assuming the role of CEO. The company has also appointed four key senior leaders to further strengthen the existing team and ensure continued leadership from the company’s founders.

After 12 years of successful leadership, current co-CEO Marc Maurer has decided to depart the company to embark on a new chapter in his professional life.

“Under the leadership of the On founders and Co-CEO’s, collectively the Partners, On has transitioned from a challenger in the running industry to a major global sportswear brand, including milestones such as the public listing at the New York Stock Exchange in 2021 as well as reaching record net sales of over CHF 2.3bn and a record net income of CHF 242m in its latest fiscal year 2024,” the company said in a media release. “Since the announcement of its Dream On vision at the 2023 Investor Day, On has successfully executed on the communicated strategic building blocks and is well on track to reach its stated 2026 targets.”

From this position of strength, the Partners and the Board of Directors reportedly held strategic discussions about the evolution of On’s leadership team to set the company up for its next years of growth and profitability. During these discussions, Co-CEO Marc Maurer expressed his desire to depart the company after 12 years of successful leadership to open the next chapter in his professional life.

Maurer will stay in his role until June 30, 2025, ensuring a smooth transition, and then continue to advise the Partners and the Board of Directors until March 2026. Martin Hoffmann, co-CEO and CFO, will assume the role of Chief Executive Officer (CEO), effective July 1, 2025.

The founders of On, David Allemann and Caspar Coppetti as executive co-chairmen, and Olivier Bernhard as an Executive Board member, will continue to manage On’s product organization, to contribute to the future vision, and lead On together with CEO Martin Hoffmann and the Senior Leadership Team.

The company said that Marc Maurer has been instrumental in the company’s growth, playing a key role in scaling the company from a challenger brand to a publicly-listed, global premium sportswear company.

“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. Thank you Caspar for asking me to join On back in 2012, and thank you Olivier and David for trusting me from the first moment. And obviously, thank you Martin for this unforgettable chapter in my life. And, thank you to the entire On team for all your dedication and for making On what it is,” Maurer offered.

“Marc has played a pivotal role in building On over more than a decade. Having him on our side as a trusted partner and friend during a very defining period of On‘s journey has been invaluable. We will miss Marc as a confidant and business partner, but we also respect his decision that this is a good moment for him to move on to the next chapter in his professional life,” said Coppetti.

“Sharing a CEO role with one of your closest friends is simply one of the best things that can happen to you in life,” offered Hoffman. “Thank you, Marc, for this incredible journey and your continued friendship. I look forward to Dream On in this next chapter for the company together with my partners and our incredible team. We have a strong strategy for sustained long-term growth in place and the dedication to execute it.”

On has appointed four key senior leaders, attracting top talent from across industries. The new adds include:

  • Katarina Berg as chief people officer, starting August 1, 2025, joining from Spotify where she held the position of chief human resources officer.
  • Scott Maguire as chief innovation officer, started March 31, 2025, joining from Specialized where he served as CEO, and previously from Dyson where he was the COO.
  • Adib Sisani as chief communications officer, starting April 1, 2025, joining from Axel Springer, where he was global head of communications.
  • Craig Jones as chief supply chain officer, started March 10, 2025, joining from Levi Strauss, where he held the position of SVP of distribution and logistics operations.

“These strategic additions, along with the highly accomplished team of existing leaders, demonstrate On’s commitment to building a world-class group of senior leaders to drive innovation, foster a strong company culture, and enhance its global brand presence,” the company said.

“Martin has been an exceptional leader at On in the last 12 years and he has the unanimous support of our Board,” said David Allemann, co-founder of On and executive co-chairman. “We have the most talented team in the industry, and I know their passion and drive to Dream On will only grow stronger under Martin’s continued leadership as CEO. At the same time, we continue to expand our leadership team and bring additional experience, backgrounds, and ideas to prepare for the next phase of strong growth.”

Marc Maurer will continue as co-CEO until June 30, 2025 and support Martin and the company during the transition. This period is expected to allow Hoffmann to continue to serve as CFO and together with the other Partners and the Board of Directors complete the ongoing search for a new CFO.

Following his departure from an active role at On, Marc Maurer’s Class B voting shares will reportedly initiate a sunset process and he will cease to be a party to the shareholders’ agreement between the company and the Partners following the company’s 2025 Annual General Shareholders’ Meeting (AGM), scheduled for 22 May 2025. While 36 percent of his Class B Shares will be acquired by the On founders, the remaining, 64 percent of his Class B Shares (10,520,820) will be proposed for conversion into 1,052,082 Class A Ordinary Shares at the next AGM.

Image courtesy On Holdings