Puma replaces finance chief as group steps up turnaround plan
Chief executive Arthur Hoeld has cut hundreds of jobs and reshaped sportswear company’s leadership team
Chief executive Arthur Hoeld has cut hundreds of jobs and reshaped sportswear company’s leadership team

CEO describes decision as ‘painful’ and admits sportswear group is ‘trailing behind its competition’

German sportswear maker missed out on retro sneaker trend that benefited Adidas

Sportswear group’s softer than anticipated outlook stirs concerns about multiyear turnaround plan

Purchase of 5.77% stake via derivatives adds to billionaire’s investments in retail industry

Shake-up spurred on by rise of AI and threat of major upheaval across the industry

Markus Strobel also becomes interim chief, replacing Sue Nabi who departs after sharp falls in share price