Puma: CEO Arne Freundt steps down after 14 years due to strategic differences
Puma CEO Arne Freundt will step down from the company on April 11 after 14 years of service in various management roles. The decision was made due to "diverging strategic views" between Freundt and Puma's Supervisory Board.
New CEO: Arthur Hoeld
Succeeding Freundt will be Arthur Hoeld, a former Adidas executive with 26 years of experience in the sports industry. Hoeld will take over the role of CEO and Chairman of the Management Board of Puma effective July 1. During the transition period, the Supervisory Board will lead the company.
Background and Rationale
Freundt's resignation follows a period of disappointing financial results for Puma. After announcing its growth forecast for 2025, the company's shares fell significantly, returning to 2016 levels. Despite efforts to reorganize the company and partnerships with high-profile athletes, the Board of Directors decided to change its strategic direction.
Reactions and Outlook
Freundt expressed gratitude for the support he received during his tenure and said he was optimistic about the future of Puma. Arthur Hoeld, on the other hand, expressed enthusiasm for joining the "Puma family", stressing the importance of sporting authenticity and innovative product offerings for the future of the company.