Struggling Sneaker Stock Sinks on C-Suite Exit

Sneaker maker On Holding Ltd (NYSE:ONON) is moving 7.9% lower to trade at $32.40 at last glance, as investors continue to react to the company's C-suite updates. Yesterday On Holding said its current CEO Martin Hoffmann will step down and remain an advisor to co-founders David Allemann and Caspar Coppetti, as the pair move into the co-CEO placard. The athleticwear maker has intentions to increase its scale globally, entering its "next growth phase."ONON is now trading at its lowest mark since May and on tra ...