On Holding (ONON 4.50%) shares plummeted 11% following the surprise announcement that CEO Martin Hoffmann will step down on May 1. While co-founders David Allemann and Caspar Coppetti will assume Co-CEO roles, the market reacted sharply to the loss of Hoffmann, often considered the "face" of the company for investors. This leadership shuffle--the second major C-suite change in a year--stokes fears regarding long-term stability and execution. Despite record 2025 sales, investors are clearly wary of shifting the "Dream On" strategy during a pivotal global scaling phase.
*Stock prices used were end-of-day prices of March 25, 2026. The video was published on March 25, 2026.
