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0 -0.00062893081761005 0.000471698113207565 0.000786163522012646 3.14465408804299E-06 0.00251572327044031 0.00251572327044031 0.00251572327044031
Stock impact report

On's Leadership Shakeup Challenges Confidence In Its Next Phase Of Growth [Yahoo! Finance]

On Holding AG (ONON) 
Company Research Source: Yahoo! Finance
Courtesy of On Holding On, the Swiss-based premium performance brand, is reshuffling its C-suite deck , the second time in only a year. And the news has rattled the investor community, coming at a pivotal time after the company reached its three-year goal of doubling revenues to CHF 3 billion and achieved its adjusted EBITDA profitability objective of 18%, as outlined in its 2003 Investor Day presentation . Before the announcement, On Holding shares were trading just around $40, but are currently trading just over $32. CEO Martin Hoffmann, who's been with the company for 13 years, is stepping aside in what was described as a “planned hiatus.” Co-founders David Allemann and Caspar Coppetti are stepping back in as co-CEOs— following a shared leadership model that helped propel the company forward during its earlier growth years. As part of the restructuring, chief innovation officer Scott Maguire, who joined the company a year ago after nearly two decades at Dyson and rising to COO Show less Read more
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