Puma has appointed Markus Neubrand as its chief financial officer to replace Hubert Hinterseher.
Neubrand will officially take up new his role on 1st October, with Hinterseher stepping down at the end of September before leaving the German sportswear giant on 31st December. Hinterseher had served as Puma’s chief financial officer since June 2021, having initially joined the company in 2005.
Neubrand arrives from apparel brand Guess and had previously held roles at MCM Worldwide, Hugo Boss, and Deloitte. His hiring also sees him join Puma’s management board alongside chief executive Arne Freundt, chief product officer Maria Valdes and chief sourcing officer Anne-Laure Descours.
Puma sales were down 0.2 per cent year-over-year (YoY) to €2.12 billion (US$2.37 billion) in its second quarter of 2024, though rose 2.1 per cent when adjusted for currency effects. Shares in the company were up almost four per cent on 26th September after Neubrand’s appointment was announced.
“We are excited to welcome Markus to Puma. He is an experienced finance executive with significant operational, financial planning and capital markets expertise,” said Freundt.
“With his strong knowledge of the industry and people-first approach, Markus is a great fit for the Puma family and I am excited to start working with him to write our next chapter of sustainable growth based on brand elevation.
“I would like to thank Hubert for all of his achievements at Pema. With his great commitment and dedication to the brand and Puma family, he has contributed to our success over the past 20 years. I wish him all the best for his professional and personal future.”
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