On Holding Names Co-Founders as New CEOs Amid Turbulent Market

On Holding, a Swiss sportswear brand, has appointed co-founders David Allemann and Caspar Coppetti as co-CEOs, replacing Martin Hoffmann who will step down. The change comes as the company navigates a challenging market with muted annual sales growth and soft consumer sentiment in the US, its largest market. On's revenue has risen more than four-fold since its IPO in 2021.