Salomon chief executive Franco Fogliato will depart the brand effective immediately due to personal reasons, parent company Amer Sports said Friday.
James Zheng, Amer Sports’ chief executive, will lead Salomon on an interim basis, the company confirmed.
Fogliato, a veteran sportswear executive, saw Salomon through a period of high growth since taking the role in 2021, buoyed by the popularity of its sportstyle business and its XT-6 trail sneaker.
Amer Sports — which also owns Arc’teryx and Wilson — has had an underwhelming start to life as a public company after a much-hyped IPO in February. The group’s reliance on China sales, a lack of profits and a $2.1 billion pile of debt on its balance sheet softened demand for the hotly anticipated listing. Its stock is trading at $15.05, up from its initial listing price of $13.40.
Amer has been on an extended growth streak since 2020, buoyed by the transformation of its three largest brands from sports equipment specialists into full-fledged fashion brands, as well as benefitting from a post-pandemic surge in activities like trail running and hiking.
The group recorded $4.37 billion in revenue in 2023, up 23 percent year-on-year, and forecast low double-digit to mid-teens annual sales growth for full-year 2024.
Learn more:
The Gorpcore Empire Behind Salomon and Arc’teryx
Amer Sports plans to scale its three largest companies, including tennis racket maker Wilson, into €1 billion sportswear megabrands by cutting back on wholesale and leaning into their fashion appeal, without altering their core product offerings.
