Puma has replaced its chief financial officer as quarterly sales drop beneath a restructuring that presses the German group to reclaim top-three status among global sportswear rivals. Markus Neubrand departs after two profit warnings since 2024, yielding to Mark Langer from Hugo Boss. Arthur Hoeld, a former Adidas executive installed last July, has cut hundreds of jobs and imported alumni from the larger German peer to quicken change after a bruising period.

Operating loss reached €645mn during 2025, forcing aggressive inventory clearance through outlets that lifted first-quarter earnings before interest and tax by 20 per cent to €51.9mn. Pulling back on promotions squeezed revenue, while discount reduction favored direct-to-consumer channels. Sales slid 6 per cent to €1.86bn as currency drag and weak demand in Europe and the Middle East widened the gap with Adidas and exposed pressure from New Balance, Skechers and Lululemon.

Guidance targets a decline of as much as 7 per cent in sales this year and an operating loss up to €150mn, with second-quarter sales likely below the first. Shares have jumped more than 10 per cent since China’s Anta acquired a 29 per cent stake in January, and Puma hopes the North America football World Cup will unlock demand in a market where the sport has long lagged.