05:31 AM EDT, 04/01/2025 (MT Newswires) -- On (ONON) said Tuesday it will transition to a single-chief executive structure, with co-CEO Martin Hoffman to become its sole CEO, effective July 1.

Marc Maurer has decided to leave the company. He will remain as co-CEO through June 30 to ensure a smooth transition. He will also continue to advise the partners and the board until March 2026.

The company also said Hoffman will remain as chief financial officer until a new person is appointed to the role.