Puma Shakes Up Marketing Leadership Amid Restructuring and Financial Woes
Puma is poised to reveal its new global brand and marketing leader following the confirmed departure of Richard Teyssier, who served as Vice-President for Global Brand and Marketing. The German sportswear giant confirmed this development to FashionNetwork.com, signaling a significant shift in its executive structure.
Teyssier, a veteran of 15 years with Puma, hinted at his imminent exit on Wednesday through a LinkedIn post. In his message, he commemorated his decade and a half with the company, expressing gratitude to the various teams he had the privilege to lead during his tenure.
His departure marks yet another change within Puma's top management since Arthur Hoeld assumed the role of group CEO in July. Earlier in September, the company saw the appointment of Andreas Hubert as Chief Operating Officer and Ronald Reijmers as Vice-President, Global Retail. Furthermore, Maria Valdes, previously Chief Product Officer, stepped into the role of Chief Brand Officer on October 27, illustrating a broader reshaping of the leadership team.
These executive shifts occur against a backdrop of challenging financial results for Puma over several quarters. In response to these difficulties, the group has announced a comprehensive restructuring plan. This strategic initiative aims to reduce approximately 900 positions across its global teams by the end of 2026, indicating a focused effort to streamline operations and improve financial performance.
Richard Teyssier's journey at Puma began in 2010, following his leadership of Mars’ French subsidiary. He initially joined to head Puma’s operations in France, where he significantly expanded the brand's presence by securing strong footholds with multi-brand retailers and establishing a new headquarters in Strasbourg. His career trajectory within the company continued its ascent, leading him to become General Manager for Europe in 2021, before transitioning to an international role as Vice-President in the summer of 2023.
In his heartfelt farewell message, Teyssier articulated his enduring passion for the brand, stating, "What will always remain is my deep passion for this brand and my conviction that, to keep its flame alive, a brand must remain bold, connected and human. It must never settle for merely following culture; it must create it." He extended his sincere thanks to all who contributed to his "fifteen years unforgettable," acknowledging their talent, energy, and creativity in shaping every success and challenge.
Puma's recent financial reports underscore the urgency of these changes. Over the first nine months of the current financial year, the group reported an 8.5% year-on-year decline in revenue, reaching €5.973 billion. The company’s overall result also saw a significant drop of approximately half a billion euros during the same period, culminating in a net loss of €257 million after nine months.
