ONON Shares Decline Following Unexpected CEO Departure, Causing Division on Wall Street
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Mar 25 2026
0mins
Source: stocktwits
Analyst Ratings: BTIG has maintained a 'Buy' rating on On Holding with a price target of $70, while analyst Cristina Fernandez has lowered her target from $65 to $60 but kept an 'Outperform' rating on the shares.
Leadership Change: CEO Martin Hoffmann stepped down, leading to a nearly 11% drop in shares, but management emphasized that this transition is not indicative of any business challenges.
New Co-CEOs: David Alleman and Caspar Coppetti will assume the roles of Co-CEOs while continuing as Executive Co-Chairmen of the Board, with co-founder Olivier Bernhard remaining focused on key performance initiatives.
Retail Sentiment: Retail sentiment around On Holding has been described as "extremely bullish," despite the company's shares falling 25% so far in 2026.
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Analyst Views on ONON
Wall Street analysts forecast ONON stock price to rise
21 Analyst Rating
18 Buy
2 Hold
1 Sell
Strong Buy
Current: 39.190
Low
30.00
Averages
60.79
High
85.00
Current: 39.190
Low
30.00
Averages
60.79
High
85.00
About ONON
On Holding AG is a Switzerland-based company active in athletic sports accesories industry. The Company provides footwear and sports apparel and is engaged in developing and distributing performance sports products, through independent retailers and global distributors. The Company sells its products trough the internet and its own stores.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Consumer Spending Trends: The athletic apparel industry faces challenges from slowing consumer spending, particularly in North America; although On Holdings and Adidas excel in pricing new products, the overall market must focus on pricing power and inventory management.
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- Board Election Showdown: At the upcoming annual meeting, Lululemon will face a contest between Wilson's nominees and its own, including former Levi Strauss CEO Chip Bergh, reflecting strategic considerations in the leadership restructuring process.
- Increased Market Pressure: Lululemon has faced mounting pressure in the U.S. market over the past two years, particularly due to tariffs and weak consumer confidence, resulting in a nearly 43% drop in its stock price this year, highlighting the challenges the company faces in the competitive athleisure market.
- New CEO Appointment: Lululemon has appointed former Nike executive Heidi O'Neill as its new CEO, and while her appointment raises market concerns, the company is confident that her extensive experience will bring a turnaround for the brand, emphasizing her potential in rapid growth and brand revitalization.
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