On’s Longtime CEO Martin Hoffmann Is Stepping Down

Core Insights - Martin Hoffmann, the CEO of On, is stepping down on May 1 to pursue philanthropic interests, with co-founders David Allemann and Caspar Coppetti taking over as co-CEOs [1][2] - Scott Maguire has been promoted to president and chief operating officer, indicating a shift in leadership structure [2] - Under Hoffmann's 13-year leadership, On evolved from a startup to a major player in activewear, generating over 3 billion Swiss francs (approximately $3.8 billion) in revenue by 2025 [3] Leadership Transition - Allemann and Coppetti aim to unify founder-led strategic intent with operational efficiency to enhance product focus and innovation [3] - Hoffmann's contributions to On's culture and financial discipline were highlighted as instrumental to the company's success [3] - Olivier Bernhard will continue to lead key product initiatives and athlete engagement as an executive board member [3] Promotions and Roles - Scott Maguire is recognized for his ability to connect engineering and design with execution, reflecting the company's commitment to innovation [4]