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2012 December 12

Puma CEO Franz Koch Steps Down

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(NEW YORK) After six years at Puma, two of which were spent as CEO, Franz Koch is stepping down from the chief exec role as well as PPR's group executive committee. Koch will work alongside Puma's chairman and PPR managing director Jean-Francois Palus until Spring 2013, when his position will be filled by a yet-unknown CEO. Koch's leave along with the recent departure of the administrative board's chairman, Jochen Zeitz, coincides with PPR's aim to turn the label's financial struggles around after the announcement that profits were down by 85.1 percent.

Additional recent management changes at Puma include the appointment of Andy Koehler, formerly manager of Adidas AG (ADS), as chief operating officer, and Jean-Francois Palus, formerly PPR SA Managing Director, as chairman. In the effort to boost profits, Puma will also close 80 existing stores, focusing instead on production and marketing.

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