0945 GMT - Puma's CEO change seems a positive step for the company, given investors had lost some faith in the current strategy, Deutsche Bank analysts write in a note. The German sporting-goods group named Arthur Hoeld as its new CEO, replacing Arne Freundt, who will leave due to differing views with the supervisory board on strategy execution. "We believe a new CEO can change the internal attitude in the company relatively quickly," they say. Hoeld's strategic direction might focus on accepting Puma's lower price position in the market, Deutsche says. However, the timing is unfortunate as the group has to navigate the impact of U.S. tariffs, which are likely to put material pressure on earnings momentum, the analysts say. Shares fall 1.7%. (andrea.figueras@wsj.com)
(END) Dow Jones Newswires
April 04, 2025 05:45 ET (09:45 GMT)
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