Puma CEO Franz Koch is retiring. According to the company, "this decision was made by mutual agreement of the parties." It is known that Franz Koch will leave office in March next year.
Analysts attribute this decision to the company's unsatisfactory financial results. Information about the resignation of Puma's chief executive appeared a few days after the release of the company's financial statements - according to the results of three quarters, Puma's profit fell by 85%.
Puma is the largest German manufacturer of sports shoes and apparel. The main shareholder is the French PPR group of companies, the rest of the shares are in free float.