On Holding AG Appoints Co-Founders David Allemann and Caspar Coppetti as Co-CEOs
Photo Credit: On
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ZURICH, Switzerland, March 27 2026 (VSNewsNetwork.com) — Sportswear company, On Holding AG has announced that co-founders David Allemann and Caspar Coppetti will assume the roles of Co-CEOs effective May 1, 2026.
According to the company, the leadership update is part of an organizational restructuring designed to align founder-led strategic direction with operational execution as the company enters its next growth phase. Scott Maguire has been promoted to President & Chief Operating Officer, and Martin Hoffmann will step down as CEO after a 13-year tenure with the company.
Effective May 1, 2026, Allemann and Coppetti will serve as Co-CEOs while continuing as Executive Co-Chairmen of the Board. Co-founder Olivier Bernhard will continue leading key performance product initiatives and athlete engagement as an Executive Member of the Board.
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"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," said David Allemann.
On has reported record performance in 2025, with annual net sales surpassing CHF 3 billion and increased gross profit margins.
Hoffmann will step down from his roles effective May 1, 2026, and will support the onboarding and transition of incoming Chief Financial Officer Frank Sluis, who will join the company on the same date. Hoffmann will remain an advisor through March 2027.
"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," said Caspar Coppetti.
“It has been an absolute privilege to shape On and this amazing team alongside the Founders for over a decade. 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,” said Martin Hoffmann.
Maguire, who has led innovation initiatives including LightSpray™ technology and Superfoam developments, will oversee research and development, manufacturing, marketing, global commercial operations and technology as President & COO.
"Scott is a rare find, he truly gets what makes On special. As someone who has spent my life obsessing over product performance, I love how naturally he connects engineering and design with execution. He is the perfect product-led operator to supercharge our engine as we scale globally," said Olivier Bernhard.
“I am honored to work even more closely with our co-founders to execute On’s strategy as one connected flywheel. By aligning the organization tightly around the product and consumer journey, we are creating the space to keep pushing boundaries and build a seamless global brand experience for our growing community of fans. And, of course, to keep Dreaming On,” said Scott Maguire.
Following Hoffmann’s departure, his Class B voting shares will initiate a sunset process, with proposed conversion into Class A ordinary shares at the company’s Annual General Shareholders’ Meeting scheduled for May 28, 2026.
For more information, visit www.on-running.com.
Source: On Holding AG
