Swiss performance brand On Holding AG is entering a new leadership era, with co founders David Allemann and Caspar Coppetti set to become Co CEOs while continuing as Executive Co Chairmen of the Board, effective May 1, 2026. The move realigns the company’s long term founder stewardship directly with day to day execution as On looks to accelerate global expansion in running, training, tennis, and lifestyle.
Leadership Shift And New Roles
From May 1, 2026, Allemann and Coppetti will formally share the Chief Executive role, replacing outgoing CEO Martin Hoffmann, who helped guide On through its 2021 New York Stock Exchange listing. Hoffmann will step down from the Executive Board but remain closely involved as a senior adviser to the founders and Board of Directors until 2027, supporting strategic projects and ensuring continuity.
“It is difficult to put into words how impactful Martin has been,” said Caspar Coppetti. “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.”
At the same time, Scott Maguire is being promoted to President and Chief Operating Officer, responsible for the full value chain, including product creation, supply chain, marketing, commercial operations, and technology. This structure is designed to let the founders focus on brand, culture, and long term vision while an empowered COO drives operational excellence across more than 90 markets.
“I am honored to work even more closely with our co-founders to execute On’s strategy as one connected flywheel,” said Scott Maguire. “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.”
Why On Is Returning To A Founder-Led Model
“The best time to elevate your game is when you are already breaking your own records,” said David Allemann. “By unifying founder-led strategic intent with our operational core, we aim to move faster, stay relentlessly focused on product heat, and continue pushing the boundaries of what a sportswear brand can be.”
The shift follows the brand’s strongest financial performance to date in 2025, underpinned by innovation in proprietary technologies such as CloudTec cushioning and LightSpray materials.
“Scott is a rare find, he truly gets what makes On special,” said Olivier Bernhard. “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.”
Since launching in Zurich in 2010, On has scaled from a niche running start up into a premium global sportswear player, boosted by partnerships with Roger Federer and collaborations with luxury houses like Loewe, and achieved a $6.5 billion valuation when it raised $746 million at IPO. Re installing the founders at the very top is meant to keep that entrepreneurial DNA front and center as the company scales.
What The Co‑CEO Era Means For On’s Next Chapter
With the co founders back in operational control, On is signaling a sharpened focus on:
Deepening its premium positioning in performance footwear, apparel, and racket sports, while continuing to court fashion minded consumers who wear the brand beyond training.
Expanding its DTC footprint and wholesale partnerships in North America, Europe, and Asia, building on momentum in key cities where running and lifestyle lines already have strong traction.
Investing in product and sustainability innovation, leveraging a tighter loop between founder vision, design teams, and supply chain under Maguire’s COO leadership.
The new structure combines the credibility of founder led storytelling with a clear operational backbone, a model more companies are exploring as they navigate higher complexity and global growth.
