Overview
- Chief executive Martin Hoffmann, who has served as interim CFO since last spring after Marc Maurer’s departure, will oversee finance until Sluis arrives.
- Sluis most recently led finance for Ahold Delhaize’s Europe and Indonesia businesses covering more than €30 billion in annual sales, with earlier roles at Reckitt Benckiser and Unilever.
- Stifel’s Peter McGoldrick reaffirmed a buy rating, citing added organizational bandwidth and the benefit of refocusing Hoffmann on strategy, and he expects the shares to rise this year.
- Telsey Group’s Cristina Fernandez maintained an outperform rating, pointing to Sluis’s large-scale experience and alignment with On’s management.
- On reported 2024 revenue of $2.6 billion, up 29% year over year, and management guides to at least 34% net sales growth for 2025 alongside product, store, wholesale and apparel expansion, including APAC.