HERZOGENAURACH (dpa-AFX) – A change of guard is imminent at Puma (PUMA SE). After nine years at the top, acting boss Björn Gulden will not renew his contract, which expires at the end of the year, as the company announced on Friday in Herzogenaurach. The supervisory board has appointed board member Arne Freundt as his successor. His contract, which begins on January 1st, runs for four years. Puma shares gave up a large part of their gains in the afternoon and recently gained a good one percent. Adidas shares, on the other hand, were in demand. They shot up by around 14 percent.
“I think now is the right time for Puma, for my successor and for me to leave the company,” commented Gulden. “I still have a lot of energy for an operational role for the next 5 to 10 years, but that would have been too long for Puma.”
According to Héloïse Temple-Boyer, Chair of the Supervisory Board, Arne Freundt is a recognized leader of the company as CEO. “He is the designated candidate and the ideal choice to continue Puma’s very successful path and further accelerate the company’s momentum.” Referring to Gulden, she said he put Puma back on the road to success and ensured “that he leaves the company in top form.”
Freundt (42) has reportedly been working for Puma for more than ten years and has been on the board since June 2021./nas
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