Ex-Guess Inc CFO takes top financial seat at Puma

A 19-year expert of the sports brand name, Hinterseher has served as Puma’s CFO given that June 2021, according to his LinkedIn account. He will officially step down from his role as of Sept. 30 and will certainly leave in December “after a smooth and effective transition,” the firm said.

The international brand project additionally followed as Puma has battled to get rid of plunging earnings, reporting assistance for its Q1 2024 that dropped listed below expert expectations, according to Advertising and marketing Dive. Following its April project, Puma reported rising sales for its 2nd quarter in August, with the firm “well on track to deliver on our overview for the complete year,” Freundt claimed.

His successor Neubrand, an expert of the fashion business, most lately served as CFO for Switzerland-based firm Presume Inc, resigning in August after around a year in the role, Style Dive sister magazine CFO Dive previously reported. He departed for a chance which “will bring him closer to his family members,” according to a company news release at the time.

Think Inc and Hugo Manager alum Markus Neubrand will certainly action in as money chief for German brand name Puma, along with serve as a member of its board, reliable Oct. 1, the business announced Thursday in a news release.

Sales for the quarter expanded by 2.1% to get to 2.1 billion euros, or regarding $2.3 billion, though “currencies continued to be a headwind, adversely influencing sales in euro terms by approximately 50 million euros in Q2 2024,” the company stated. The sporting activities merchant also reported a 23.8% decline in web earnings for the quarter to 41.9 million euros, according to its revenues report.

Before Guess, his previous experiences included stints as Team CFO for high-end style brand MCM Wordwide, along with a 17-year period at Hugo Boss, where he offered in different roles including as COO and CFO, Americas, according to his LinkedIn account.

As component of his role as Puma’s CFO, Neubrand will supervise the athleticwear brand’s finance, investor relations, legal, IT and business solution departments, the company stated. Beginning with his consultation on Oct. 1, the business’s board will be included Neubrand, CEO Freundt, CPO Maria Valdes, and CSO Anne-Laure Descours, according to the Thursday press release.

In April in advance of the Summertime Olympics, the company introduced its very first global brand name project in a decade, Style Dive sis magazine Advertising Dive formerly reported. The campaign noted “the biggest advertising and marketing financial investment to day” from the company, with Puma– along with its fellow merchants– leaning on the Olympics to create far better connections with customers, Marketing Dive reported.

Neubrand’s visit comes as Puma continues its concentrate on enhancing “the brand charm for the long-term development of the Puma brand,” Freundt stated in a statement included in the business’s most recent earnings record.

Neubrand is “a seasoned finance executive with significant functional, financial preparation and capital markets expertise,” Puma chief executive officer Arne Freundt stated in a statement consisted of in the Thursday release. “With his solid expertise of the sector and people-first technique, Markus is a terrific suitable for the Puma Family and I am thrilled to begin working with him to write our following chapter of sustainable growth based on brand altitude.”