What's Happening?
Athletics brand On has appointed Frank Sluis as its new Chief Financial Officer, effective May 1. Sluis, who brings 25 years of experience, previously served as CFO for Europe and Indonesia at Ahold Delhaize,
a food retailing company. This appointment allows On's CEO, Martin Hoffmann, to focus solely on his role as CEO, having previously managed both positions. The decision comes as On experiences significant growth, with a 25% increase in net sales in the third quarter, reaching 794.4 million Swiss francs. The company has also raised its full-year guidance, indicating strong performance and confidence in its market position.
Why It's Important?
The appointment of Frank Sluis as CFO is a strategic move for On, as it seeks to capitalize on its current momentum and expand its market presence. Sluis's extensive experience in finance and his alignment with the company's values are expected to enhance On's leadership team and support its growth objectives. This change in leadership comes at a time when On is experiencing robust sales and a strong market position, particularly among affluent consumers who are less sensitive to price changes. The company's ability to attract top talent like Sluis reflects its strong brand reputation and potential for continued success in the competitive athletics market.
