Puma is parting ways with CEO Arne Freundt over “differing views on strategy execution.” Arthur Hoeld, an Adidas man, will replace him. Matthias Bäumer has been appointed Chief Commercial Officer.
Already at the annual press conference, some journalists were speculating that Arne Freundt would find it difficult to continue implementing his strategy at Puma. A few weeks later, on April 11, Freundt will leave his position as CEO.
Freundt has been CEO for two and a half years, having held various other positions within the company for a total of 13 years. However, Freundt was unable to gain the trust of shareholders during this time. The strategy of investing in the brand and higher-priced segments did not work – at least from investors’ perspective. It was only last year that Puma unveiled its first major brand campaign after years of focusing on product marketing. Puma continued this year with, among others, the “Go Wild” running campaign, which was launched a few days ago.
Arthur Hoeld from Adidas to Puma
Arthur Hoeld was with Adidas for years. ”We are delighted to appoint Arthur Hoeld, a sports industry expert with a proven track record and strong commercial expertise built up over the last 26 years, as the new CEO of Puma,” said Héloïse Temple-Boyer, Chairwoman of the Supervisory Board of Puma SE. “We are confident that Arthur’s strategic vision and focus on product and brand will lead PUMA into a new chapter of strength and growth.”
Matthias Bäumer is Puma’s new Chief Commercial Officer
The former Adidas man also focused on brand in his initial statement: “Sports authenticity and an exciting brand proposition will be our main focus in the future,” said Hoeld. In his 26 years at Adidas, he served as Managing Director EMEA and, for the last one and a half years, as Chief Sales Officer.
Puma has also appointed Matthias Bäumer as Chief Commercial Officer. Bäumer was previously Vice President of Puma’s Teamsport Business Unit and will now oversee the company’s sales subsidiaries and global direct-to-consumer and go-to-market organizations.
As of July 1, Puma’s Management Board will consist of Arthur Hoeld (CEO), Markus Neubrand (Chief Financial Officer), Maria Valdes (Chief Product Officer) and Matthias Bäumer (Chief Commercial Officer).
Work at Puma is now likely to become even more challenging for the new leadership team. Following US President Trump’s announcement of new tariffs, Puma’s share price has fallen to its lowest level in around nine years.
