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PUMA AG has decided to turn itself into a one-tier European Company. Jochen Zeitz, currently the CEO of PUMA, will become its Executive Chairman and will appoint a CEO. This change was decided today by the Supervisory Board of PUMA AG. It will be preceded by regulatory social consultations and is subject to approval at PUMA’s 2011 Annual General Meeting, in April.
François-Henri Pinault, Chairman and CEO of PPR, is also entrusting Jochen Zeitz with two new missions in the PPR Group: Jochen Zeitz is going to be responsible for the new Sport & Lifestyle Division of PPR and he will be managing PPR’s new sustainable development policy as Chief Sustainability Officer.
Jochen Zeitz, CEO of PUMA, said that: “Following the example of other global companies, we want to reinforce the organisation of the management team, at an important time in the life of PUMA. The person who will be appointed to the post of CEO will manage, together with me, the implementation of the strategic plan that we have defined for the next five years. I look forward to evolving my role within PUMA as well as the PPR Group.”
François-Henri Pinault, Chairman and CEO of PPR, announced the following: “The reinforcement of the PUMA management team under Jochen Zeitz is a decisive factor in the implementation of our strategy, which aims to make PUMA the core brand of PPR’s second pillar. I am also delighted that Jochen Zeitz contributes to the general development of PPR through his experience and expertise, while continuing to successfully lead the Puma strategy. Within the framework of the strategy PPR is pursuing, at the head of the Sport & Lifestyle Division, Jochen Zeitz will be responsible for setting up the organisation of our consumer brands portfolio. In the field of corporate social responsibility, and on the basis of solid foundations built over more than 10 years, PPR will accelerate and improve its actions under Jochen Zeitz to take our sustainable development to a new stage.”
(Press Release)
Image: Sunflower246246, CC BY-SA 3.0, via Wikimedia Commons.
