On reshuffles leadership as it enters next phase of global expansion

Swiss sportswear brand On has announced a leadership reshuffle as it prepares to enter its next phase of global expansion. 

Effective 1 May 2026, co-founders David Allemann and Caspar Coppetti will take over as Co-CEOs. They will succeed Martin Hoffmann, who will be stepping down as Chief Executive after 13 years with the company.

Allemann and Coppetti will continue to act as Executive Co-Chairmen, while the third co-founder, Olivier Bernhard, will continue to spearhead key performance product initiatives and athlete engagement as an Executive Member of the board.

The new organisational structure will also see Scott Maguire, currently the Chief Innovation & Operations Officer at On, promoted to President & COO, where he will oversee the full value chain - from R&D and manufacturing to marketing, global commercial operations, and technology.

Since joining On in April 2025, he has been the architect of its innovation and operational backbone, leading the scale-up of the company's LightSpray technology.

Following a 13-year tenure as CFO and five years as CEO, Hoffmann will step down on 1 May to take a hiatus and pursue philanthropic interests, but will remain an advisor to the brand through March 2027. He will also ensure the smooth onboarding of Frank Sluis, formerly of global retailer Ahold Delhaize and Unilever, who will join the company as its new CFO.

The changes are meant to connect founder-led strategic intent with execution, ensuring the premium global sportswear brand remains agile and decisive while continuing to scale and drive international expansion.

The announcement follows just weeks after the brand reported "record-breaking" results in 2025, with annual net sales increasing by 30% and surpassing £3.27 billion (CHF 3 billion).

On has expanded its footprint to nearly 70 retail locations over the past year, with a greater focus on apparel and accessories, which accounted for 7% of net sales in 2025. Looking ahead, it plans to further expand its apparel offering, which grew 68.2% in 2025, surpassing the brand’s core category, shoes, which grew by 27.5%.

"It has been an absolute privilege to shape On and this amazing team alongside the founders for over a decade," said Hoffmann.

"The timing to move on feels right. Over the past 12 months we have been highly engaged in defining the next growth horizon and leadership structure for On. This next chapter will be driven by the talented and experienced leaders who I’ve worked closely with over many years.

"I’m deeply confident they’ll continue to do incredible work in this new, unified structure, and I will continue to be a massive supporter and a shareholder of the brand going forward."

"The best time to elevate your game is when you are already breaking your own records," added Allemann.

"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."