Swiss premium sportswear brand On announced a major organizational restructuring on March 25, marking its transition into the next phase of growth. Co-founders David Allemann and Caspar Coppetti will assume the roles of Co-CEOs, while current CEO Martin Hoffmann will step down after a 13-year tenure. The changes take effect on May 1, 2026.
A Shift Toward Founder-Led Leadership
The restructuring is designed to bring the founders’ long-term strategic vision into closer alignment with day-to-day execution. Allemann and Coppetti will continue to serve as Executive Co-Chairmen of the Board alongside their new Co-CEO roles. Fellow co-founder Olivier Bernhard will remain an Executive Member of the Board, continuing to spearhead performance product development and athlete engagement.
Allemann commented on the transition: “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 will be able to move faster, stay relentlessly focused on product, and keep pushing the boundaries of what a sportswear brand can be.”
Hoffmann, who has been the financial backbone of On’s growth throughout his tenure, spent 13 years at the company — eight as CFO and five as CEO. During his time, On transformed from a Swiss startup into a global leader, surpassing CHF 3 billion in annual net sales and reaching record-high gross profit margins in 2025. Following his departure, he will focus on philanthropic pursuits, support the onboarding of incoming CFO Frank Sluis, and remain an advisor to the company through March 2027.
Coppetti paid tribute to Hoffmann’s contributions: “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.”
Hoffmann himself reflected on his time at the company: “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.”
Scott Maguire Promoted to President & COO
In tandem with the leadership transition, Scott Maguire has been promoted to President & COO. He will oversee the company’s full value chain — from R&D and supply chain to marketing, global commercial operations, and technology.
Maguire brings over 20 years of global leadership experience at premium brands. Since joining On, he has led the scale-up of the revolutionary LightSpray™ technology and spearheaded the accelerated development of Superfoam innovations for the Cloudsurfer 3.
Bernhard spoke to Maguire’s unique strengths: “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.”
Maguire shared his thoughts on the promotion: “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!”
On currently operates in more than 90 countries worldwide, with an accelerating push into flagship retail locations in key cities including New York, London, and Shanghai. The brand continues to build an integrated experience that bridges digital and physical retail — a strategy the new leadership team is poised to drive forward at scale.
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