Dive Brief:
- Come September, On is splitting up its commercial leadership into two roles “to further align with its long-term, consumer-centric ambitions,” the company said Tuesday.
- As a result, Chief Commercial Officer Britt Olsen is leaving the company at the end of September, after more than a decade at On and following a one-year transition period.
- In her place, General Manager of APAC Rebecca Cai has been promoted to chief global markets officer, effective Sept. 1. Alice Delahunt, a Ralph Lauren and Burberry vet, will join On as chief customer officer on Sept. 7.
Dive Insight:
On is shaking up its commercial leadership team a few months into a new CEO structure.
Former On chief Martin Hoffmann left the company May 1, with co-founders David Allemann and Caspar Coppetti taking the reins. At the same time, CFO Frank Sluis arrived from Ahold Delhaize and Scott Maguire was named chief operating officer. Now, On is naming two executives to run its sales regions and customers, respectively.
As chief of global markets, Cai will oversee all of On’s geographic regions, as well as the company’s global commercial teams. She will also continue to run APAC until a successor has been named.
Meanwhile, Delahunt will assume oversight of On’s DTC channels and customer loyalty. The company praised her experience across brand, customer, digital and business.
“Alice and Rebecca will play a pivotal role in strengthening our ambition to become premium at every touchpoint,” Maguire said in a statement. “They will work closely with our Product, Marketing, and Supply Chain leadership to define what success looks like and further simplify our operating model.”
On has been on a tear in recent quarters, with Q1 net sales jumping 14.5% year over year to 831.9 million Swiss francs (about $1.06 billion at the time). The retailer raised its profit guidance in May and projects annual net sales growth of at least 23% in 2026.
Some analysts have questioned On’s trajectory in recent months, even as sales have continued to soar. Jefferies analysts earlier this year worried that the company’s muted guidance was a sign that momentum was “dwindling,” just as Nike was gaining traction with its turnaround.
Nike’s own earnings, however, showed that a turnaround is going to take longer than initially thought. And On still has plenty of opportunities for growth.
“There is still meaningful white space in driving productivity at existing wholesale doors, store expansion, new categories, and international markets, where we believe the company is well positioned,” William Blair analyst Dylan Carden said in May.
