German sports goods retailer Puma SE has appointed Arne Freundt as managing director and chairman of the board with immediate effect, the company announced on Tuesday. Freundt will take over his post earlier than planned. Shortly before that, his predecessor Björn Gulden was officially confirmed as the new CEO of rival Adidas.
On Friday, Puma announced the upcoming change of leadership. Freundt, who previously worked for the company as Chief Commercial Officer, was initially scheduled to take over his position as CEO on January 1 for four years.
His appointment followed incumbent CEO Bjørn Gulden’s decision not to renew his contract at the end of the year. Shortly thereafter, it was also announced on Friday that Gulden is in talks with Puma rival Adidas.
According to his profile on the LinkedIn careers network, 42-year-old Freundt has been working for Puma for more than eleven years and has been a member of the board as Chief Commercial Officer since last June. Freundt previously held various positions at the Herzogenaurach-based group and, as General Manager, was responsible for corporate strategy, global direct-to-consumer business and the Europe, Middle East and Africa region.
His predecessor Bjørn Gulden will take up his position at the helm of Adidas on January 1st. It has been known since the end of August that the previous Adidas CEO Kasper Rorsted will leave the company before the end of this year.