Why On Holding's Stock Crashed 11% After CEO Exit
Key Points
The departure of Hoffmann, who transitioned from CFO to CEO, removes a key visionary during a critical expansion period.
Returning to a Co-CEO founder model could pay off long-term, but there are significant risks.
Investors are punishing the stock for repeated executive turnover, signaling a lack of confidence in the company’s governance.
- 10 stocks we like better than On Holding ›
On Holding (NYSE: ONON) shares plummeted 11% following the surprise announcement that CEO Martin Hoffmann will step down on May 1. While co-founders David Allemann and Caspar Coppetti will assume Co-CEO roles, the market reacted sharply to the loss of Hoffmann, often considered the "face" of the company for investors. This leadership shuffle--the second major C-suite change in a year--stokes fears regarding long-term stability and execution. Despite record 2025 sales, investors are clearly wary of shifting the "Dream On" strategy during a pivotal global scaling phase.
*Stock prices used were end-of-day prices of March 25, 2026. The video was published on March 25, 2026.
Will AI create the world's first trillionaire? Our team just released a report on the one little-known company, called an "Indispensable Monopoly" providing the critical technology Nvidia and Intel both need. Continue »
Should you buy stock in On Holding right now?
Before you buy stock in On Holding, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and On Holding wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $490,325!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,074,070!*
Now, it’s worth noting Stock Advisor’s total average return is 900% — a market-crushing outperformance compared to 184% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors.
*Stock Advisor returns as of March 25, 2026.
Travis Hoium has positions in On Holding. The Motley Fool has positions in and recommends Nike, On Holding, and Starbucks. The Motley Fool has a disclosure policy. Travis Hoium is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through their link they will earn some extra money that supports their channel. Their opinions remain their own and are unaffected by The Motley Fool.
