On Running Co-CEO Marc Maurer is leaving the company after 12 years. Co-CEO and CFO Martin Hoffmann will take over the CEO role as the company bolsters its executive team with new hires and completes its search for a new CFO.
Maurer shared his desire to depart the Swiss company during strategic discussions about the future of On’s leadership with its partners and the board of directors, according to a news release. Maurer will depart on June 30 and continue on as an advisor until March 2026.
“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 in a statement. “After a dozen years, it is time for me to move on, staying true to the culture and explorer spirit we have built.”
On has become a major global sportswear brand in recent years, listing on the New York Stock Exchange in 2021 and reaching record net sales of more than CHF 2.3 billion ($2.6 billion) and net income of CHF 242 million ($273.9 million) in fiscal 2024. At the ICR Conference in January, Mauer and Hoffmann said On Running was on course to double its sales from 2023 to 2026, and it’s aiming to move from the No. 3 run specialty shoe in the U.S. to the No. 1 spot. With the help of celebrities such as Zendaya and its massively popular products such as the Cloud collection, the brand has doubled awareness in the U.S.
Hoffmann will continue in his hybrid role as CFO until June 30 as On completes its search for a new CFO. On has also hired four key senior leaders to bolster its executive team. They include:
- Katarina Berg, the former chief human resources officer at Spotify, who will join as chief people officer on Aug. 1.
- Scott Maguire, former CEO at Specialized and former COO at Dyson, who joined as chief innovation officer on March 31.
- Adib Sisani, former global head of communications at Axel Springer, who will join as chief communications officer on April 1.
- Craig Jones, former SVP of distribution and logistics operations at Levi Strauss, who joined as chief supply chain officer on March 10.
On Founders David Allemann and Caspar Coppetti will remain as executive co-chairmen, and Olivier Bernhard will remain as an executive board member. The three will continue to manage On’s product organization.
“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,” Allemann said, referring to the company’s growth strategy, which it presented at an investor day in September 2023. “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 has played a pivotal role in building On over more than a decade,” Coppetti said. “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.”
Following his departure, 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 On’s annual general shareholders’ meeting scheduled for May 22, 2025. On founders will acquire 36% of Maurer’s class B shares, they’ll propose at the meeting that the remaining 64% be converted into class A shares.
“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. “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.”
Maurer thanked Coppetti for inviting him to join On in 2012.
“And obviously, thank you Martin for this unforgettable chapter in my life,” Maurer said. “And thank you to the entire On team for all your dedication and for making On what it is.”
