March 25 (Reuters) - Swiss sportswear brand On Holding

said on Wednesday its co-founders David Allemann and

Caspar Coppetti will take over as co-CEOs from May 1, replacing

Martin Hoffmann.

Hoffmann became On Holding's ( ONON ) sole CEO in April 2025 after he

led the company through its initial public offering filed in

2021 with then co-CEO Marc Maurer.

Hoffmann, who was also On Holding's ( ONON ) CFO for 13 years, will

remain on board as an adviser through March 2027, the company

said in a statement.

On Holding ( ONON ) named Frank Sluis as CFO in January. Sluis is

expected to take on the role from May 1.

Earlier this month, On Holding ( ONON ) forecast muted annual sales

growth, causing its shares to tumble.

The company, like other footwear and apparel makers, is

tackling a shifting tariff landscape.

Hoffmann said in March that it could see a possible boost

from the lower tariff rates after the U.S. Supreme Court struck

down the government's emergency levies. On Holding ( ONON ) has filed for

tariff refunds, and said it would reinvest proceeds in the

business rather than pass it on to consumers.

The firm's U.S.-listed shares fell about 15% in 2025, and

are down about 14% so far this year.

(Reporting by Juveria Tabassum in Bengaluru; Editing by Mrigank

Dhaniwala)