default-output-block.skip-main
BoF Logo

The Business of Fashion

Agenda-setting intelligence, analysis and advice for the global fashion community.

Germany's Puma to Have New CEO Soon, Says Pinault

Source: Reuters
By
  • Reuters

PARIS, France — PPR's sportswear unit Puma will soon have a new chief executive, the French group's head said on Friday.

PPR chief executive François-Henri Pinault was speaking at a news conference at which he unveiled a new name for the luxury goods group, which will be rebranded as Kering.

Puma is 82.4 percent-controlled by PPR. The German company, which is in the middle of an overhaul as it tries to catch up with rivals, announced the exit of CEO Franz Koch in December, less than two weeks after PPR executive Jean-Francois Palus took over as chairman of Puma's supervisory board.

There are three candidates for the CEO post, two from the sporting goods industry and one Olympian, a source familiar with the matter told Reuters on Friday.

A spokeswoman for Puma declined to comment on the hunt for a new CEO, while a PPR spokesman said: "The name of the new CEO will be announced when the contract is signed."

Koch will have held the CEO position for less than two years by the time he leaves at the end of this month. The German company, which reported a 70 percent drop in 2012 profit, is going through its biggest reorganisation in 20 years.

The management overhaul has also seen Chief Operating Officer Klaus Bauer and marketing chief Antonio Bertone agreeing to step down from their roles.

There had previously been speculation that the CEO of Danish jewellery maker Pandora could take the top job at Puma, but last month Bjoern Gulden issued a flat denial that he planned to move.

Reporting by Elena Berton and Joern Poltz; Editing by Dominique Vidalon and David Goodman; Copyright (2013) Thomson Reuters. Click for restrictions

© 2024 The Business of Fashion. All rights reserved. For more information read our Terms & Conditions

More from News & Analysis
Fashion News, Analysis and Business Intelligence from the leading digital authority on the global fashion industry.




view more

Subscribe to the BoF Daily Digest

The essential daily round-up of fashion news, analysis, and breaking news alerts.

The Business of Fashion

Agenda-setting intelligence, analysis and advice for the global fashion community.
CONNECT WITH US ON
BoF Professional - How to Turn Data Into Meaningful Customer Connections
© 2024 The Business of Fashion. All rights reserved. For more information read our Terms & Conditions, Privacy Policy, Cookie Policy and Accessibility Statement.
BoF Professional - How to Turn Data Into Meaningful Customer Connections