German sportswear brand Puma has promoted Franz Koch to chief executive officer as Jochen Zeitz steps aside after 18 years in the position.
Koch, who has been at the company since 2007, is currently in charge of global strategy for the brand, but will move into his new role when the company becomes a European Corporation - allowing it to be publicly listed anywhere within the European Union - subject to approval at the company’s annual shareholder meeting on April 14. With immediate effect Koch will also join the Puma management board as chief strategic officer.
He replaces Zeitz who is to become head of PPR’s sport and lifestyle group and will also become executive chairman of Puma in April.
Zeitz said: “Having an exceptionally analytical yet most pragmatic mind, Franz Koch has been one of the key drivers of Puma’s strategic course and strongly contributed to our 2010 record sales level. Together, we have defined the company’s five-year strategic plan which will be the catalyst to tap into Puma’s envisaged sales potential of €4bn in 2015.”