On Holding is transitioning to a single chief executive officer.
The Zurich-based sports brand said Tuesday that co-CEO Marc Maurer will be departing the company after 12 years, turning the reins over to Martin Hoffmann, co-CEO and chief financial officer. Maurer will remain in his position through the end of June and serve as an advisor through March 2026.
The founders of On, David Allemann and Caspar Coppetti, will continue as executive co-chairmen, and Olivier Bernhard will remain as an executive board member. Together, they will continue to manage On’s product organization and work closely with Hoffmann on the senior leadership team.
Maurer’s planned departure also triggered a number of other management changes at the company. Former Spotify executive Katarina Berg will be joining On on Aug. 1 as chief people officer; Scott Maguire, the former CEO of Specialized, has become chief innovation officer; former Axel Springer executive Adib Sisani has joined as chief communications officer, and Craig Jones, a one-time Levi Strauss executive, has become chief supply chain officer.
Maurer expressed his desire to move on during recent management meetings about the future of the company and how to continue to spur growth, On said. Since On’s founding more than a decade ago and its public listing on the New York Stock Exchange in 2021, the company has achieved sales of over 2.3 billion Swiss francs and net income of 242 million Swiss francs in 2024, its most recent fiscal year.
“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,” Maurer said. “After a dozen years, it is time for me to move on, staying true to the culture and explorer spirit we have built.”
Coppetti said Maurer “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.”
“Sharing a CEO role with one of your closest friends is simply one of the best things that can happen to you in life,” Hoffmann said, adding that the company has “a strong strategy for sustained long-term growth in place and the dedication to execute it.”
Following his departure from an active role at On, Marc Maurer’s Class B voting shares will initiate a sunset process and he will cease to be a party to the shareholders’ agreement between the company and the partners following the shareholders’ meeting on May 22. While 36 percent of his Class B shares will be acquired by the On founders, the remaining 64 percent of his shares will be proposed for conversion into Class A ordinary shares at the meeting.
