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In an unexpected move, Puma SE chief executive officer Arne Freundt is stepping down from his role, effective April 11.
According to the German sportswear company, Freundt’s exit is “due to differing views on strategy execution” and will leave the company after 14 years in various leading positions.
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Now, Freundt will be replaced by Arthur Hoeld, who will take on the role as chairman and CEO on July 1. In the meantime, Puma’s remaining management team will entrust its supervisory board to lead the company in this transition phase.
“It was a privilege to lead this amazing company with its iconic brand and great employees and I am proud of the achievements reached together,” Freundt, who inked a four-year contract to serve as CEO in Jan. 2023, said in a statement. “I am confident in Puma’s future prospects and will cheer for the best team in the industry moving forward. I would like to thank the supervisory board and all employees for their trust and support over the past years.”
Commenting on Freundt’s exit, Héloïse Temple-Boyer, chair of the supervisory board of Puma SE, said: “I would also like to thank Arne Freundt on behalf of the entire supervisory board for all of his achievements at Puma and commitment and dedication over 14 years. We wish him all the best for his future endeavors.”
Hoeld joins Puma from Adidas, where he most recently served as an executive board member responsible for global sales. Hoeld joined Adidas in 1998 and held various leadership positions across global brands and market for EMEA, including SVP of brand strategy and business development, general manager for Originals and managing director of EMEA.
“I am incredibly excited to join the Puma family as their new CEO,” Hoeld said. “Puma is one of the most authentic brands in our industry with an incredibly strong legacy. Their products worn by the best athletes created unforgettable moments. Sports authenticity and an exciting brand proposition will be our key focus in the future.”
Temple-Boyer added that Hoeld is a “sports industry expert” with a proven track-record and strong commercial expertise built over the last 26 years. “We are convinced that thanks to his strategic vision and focus on product and brand, Arthur will lead Puma into a new chapter of strength and growth,” Temple-Boyer said.
Puma’s CEO change comes just two days after the company promoted Matthias Bäumer, VP of Puma’s Teamsport business unit, to the role of chief commercial officer, effective April 1.