On Bolsters Executive Team: Welcomes New Chief Financial Officer

On strengthens its finances with a new manager at the helm. Frank Sluis, who will join the company on May 1st, comes from the food industry. Sluis replaces Martin Hoffmann, who became CEO in 2025 and will also assume top responsibility for finance.

The sports equipment company announced the appointment on Wednesday. CEO Hoffmann believes Sluis brings experience “on a significantly larger scale” than the company currently has. He expects to “continue to unlock” the potential of On, which has become one of the fastest growing sports equipment companies.

On is in full growth mode. The company posted sales of 134.6 million francs ($174.4 million) in the first nine months of the year, down 11.8% from the same period in 2024.

On recorded a turnover of 134.6 million francs ($174.4 million) in the first nine months of the year

Despite the drop in profit, On remains optimistic about the year-end, raising its forecasts for the period. Thus, the company expects to increase sales by 34% at year-end, compared to the 31% previously estimated.

The company, which has recently arrived in Spain through its first physical store, located in Madrid, has multiplied the turnover generated through its own stores. By markets, the company concentrates a large part of sales in America, which generated in the last nine months of the year up to 1.3 billion francs ($1.68 billion).

However, Europe, the Middle East and Africa grew at a faster rate of 34.6%, although turnover was lower at 579.7 million francs ($751 million). Footwear is currently the company’s star category, with global sales of 2.11 billion francs ($2.74 billion), 93.2% of the total.