Jochen Zeitz, chief executive of Puma, will step down from his role to join Puma’s parent company French luxury fashion house PPR.
Zeitz will become head of PPR’s sport and lifestyle division and also take up the new role of chief sustainability officer.
As head of sport the division he will be responsible for building a portfolio of “strong complementary” brands within the sport and lifestyle category.
He will become executive chairman of Puma, which will replace Zeitz.
François-Henri Pinault, chairman and chief executive officer of PPR, said: “I strongly believe in Puma’s future potential as an innovation leader and icon for the sport and lifestyle industry backed by its strong brand. I am confident that Jochen Zeitz, together with the new chief executive officer in charge of the Puma brand, will bring Puma to the next step. We will now look into expanding our sport and lifestyle investments in the coming years with Puma as a core brand in our future portfolio.”
Puma reported a 2.5% rise in turnover for the second quarter of 2010, driven by the strength of the euro and solid accessories sales. Puma’s sales for the three-month period to June 30 rose to €615.4m (£514.4m), although sales on a constant currency basis were down 4.8% as a result of late product shipments.