What's Happening?
On Holding AG, a Swiss shoemaker, has appointed Scott Maguire as the new Chief Operating Officer to oversee innovation and operations. Maguire, previously Chief Innovation Officer, will focus on scaling up the company's Lightspray shoemaking robots and expanding market share against competitors like Nike and Adidas. The appointment is part of On's strategy to double net sales and achieve high profitability by the end of its three-year growth plan. The company aims to expand into new markets, particularly in Asia, to sustain growth.
Why It's Important?
The appointment of Scott Maguire as COO is crucial for On's strategic growth and innovation efforts. By integrating technology like Lightspray robots, On aims to enhance production efficiency and product quality, positioning itself as a leader in the competitive footwear market. This move could strengthen On's market presence and profitability, especially as it navigates economic uncertainties and trade tariffs. The focus on innovation and expansion reflects the company's commitment to maintaining its competitive edge and adapting to global market dynamics.
