On Holding AG announced a major leadership overhaul on March 25, 2026. CEO Martin Hoffmann will step down on May 1. Co-founders David Allemann and Caspar Coppetti will take over as Co-CEOs.
Scott Maguire will transition to the role of President and COO to oversee the company's value chain. The reorganization aims to link founder-led strategy with daily operations for a new growth phase.
The company will convert Hoffmann’s super-voting Class B shares into Class A ordinary shares upon his departure. On Holding’s shares fell by more than 10% following the news.