On reshuffles leadership as co-founders prepare to become co-chief executives
On is reshuffling its leadership with Martin Hoffman set to step down from his combined chief executive and chief financial officer role as co-founders David Allemann and Caspar Coppetti take over as co-chief executives.
The sportswear brand said Hoffman has decided to take a planned break to pursue philanthropic interests after a successful 13 years with the business.
Subscribe to TRBIn addition, Scott Maguire has been promoted to president and chief operating officer, while co-founder Olivier Bernhard will continue leading key performance product initiatives and athlete engagement as an executive board member.
On said the new structure will “closely connect founder-led strategic intent with execution” as the company looks ahead to its next phase of growth.
Hoffman will step down from his roles on 1 May when he will be succeeded as chief financial officer by Frank Sluis, although he will remain with the company as an advisor until March 2027.
Coppetti said. “It is difficult to put into words how impactful Martin has been. From our early days through a landmark IPO, his commitment to our culture and financial discipline has been instrumental.
“It has been a privilege to work alongside him and we are deeply grateful for his partnership, his outstanding contribution and the legacy he has built.”
On reported a record 2025 with annual net sales surpassing three billion Swiss francs (approximately £2.6 billion). It has since outlined a strategic roadmap for its next phase of global growth.
Allemann said: “The best time to elevate your game is when you are already breaking your own records.
“By unifying founder-led strategic intent with our operational core, we aim to move faster, stay relentlessly focused on product heat, and continue pushing the boundaries of what a sportswear brand can be.”
