On appoints new board member with retail expertise

ZURICH - Swiss sportswear company On (NYSE: ONON), currently valued at $19.15 billion and showing impressive financial health according to InvestingPro data, has expanded its Board of Directors with the addition of Helena Helmersson, a seasoned executive with extensive retail and sustainability experience. The announcement was made public today, confirming Helmersson’s role as an independent member of the Board and part of the Nomination and Compensation Committee.

Helmersson’s background includes a notable tenure as CEO of H&M Group, where she served from 2020 to 2024. Her career at H&M began in 1997, progressing through significant roles including Head of Sustainability and Global Head of Production. Her experience is expected to bolster On’s strategic direction as the company pursues its ambition to become a leading global sportswear brand.

David Allemann, Co-Founder and Executive Co-Chairman of On, expressed confidence in Helmersson’s ability to contribute to the company’s growth, citing her "exceptional track record in retail, operations, and purpose-driven leadership."

Helmersson herself conveyed enthusiasm about her new position, emphasizing On’s "unique blend of innovation, performance, and impact." She also holds positions with other organizations, such as Quizrr and Circulose, further highlighting her commitment to sustainability and innovation in the industry.

The appointment comes as Kenneth Fox concludes his term on the Board, with On expressing gratitude for his seven years of service, especially his role during the company’s IPO in 2021. Since then, the company has demonstrated strong performance, with a remarkable 57.33% stock return over the past year and maintaining industry-leading gross profit margins of 60.62%.

On, founded in the Swiss Alps in 2010, is known for its premium footwear, apparel, and accessories in various high-performance sports categories. The brand is recognized for its CloudTec® and LightSpray™ technology and its efforts in the circular economy. It maintains a presence in over 80 countries and has cultivated a growing global fan base. InvestingPro analysis reveals 18 additional key insights about On’s financial health and market position, available to subscribers along with comprehensive research reports that transform complex Wall Street data into actionable intelligence.

The information in this article is based on a press release statement from On.

In other recent news, Dick’s Sporting Goods announced a merger with Foot Locker, acquiring the company for $24 per share, marking an 86% premium. This transaction, expected to close in the second half of 2025, aims to expand Dick’s total addressable market and leverage Foot Locker’s international presence. Analysts at Bernstein have noted mixed implications for sportswear brands, with potential benefits for Nike and challenges for JD Sports. Meanwhile, On Holding AG has seen a series of analyst upgrades following its strong first-quarter performance. Stifel increased its price target for On Holding to $66, highlighting a 43% revenue growth in constant currency, driven by success in the Asia-Pacific region. TD Cowen also raised its target to $63, citing On Holding’s strong market position and potential for positive financial surprises. Truist Securities further raised its price target to $69, emphasizing the company’s resilience and growth potential despite economic uncertainties. Bernstein maintained a $70 target, noting On Holding’s robust brand momentum and revenue growth, positioning it well for future success.

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