Puma Replaces CEO With Adidas Veteran Who Led Samba Revival (1)

Puma SE Chief Executive Officer Arne Freundt will step down after just two years in the top job as President Donald Trump’s tariffs compound the German sports company’s profit woes.

Adidas veteran Arthur Hoeld, who will take over as CEO effective July 1, is faced with the challenge of creating more hot-selling lifestyle and sports products and winning back investors burned by repeated profit warnings during Freundt’s tenure.

Puma shares are down more than 50% since Freundt took over as CEO in late 2022. The stock fell as much as 13.6% Thursday after news of the new US ...