On Stock Drops After Leadership Shake-Up at Sneaker Company -- WSJ

Dow Jones03-25 22:33

By Jared Mitovich

On Holding shares were down roughly 8% in morning trading after the company announced a leadership shake-up.

The Swiss athletic shoemaker appointed co-founders David Allemann and Caspar Coppetti as co-CEOs and announced that its current CEO, Martin Hoffmann, would step down on May 1.

The change comes on the heels of annual guidance that underwhelmed investors earlier this month and sent shares tumbling.

Shares of the U.S.-listed company are trading at their lowest level since November and are down around 20% so far this year. Wednesday's move is on pace to be the shoemaker's largest decline since Aug. 14, according to Dow Jones Market Data.

This item is part of a Wall Street Journal live coverage event. The full stream can be found by searching P/WSJL (WSJ Live Coverage).

(END) Dow Jones Newswires

March 25, 2026 10:33 ET (14:33 GMT)

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