Puma CEO Says Company Will Return To Sporting Goods Roots
Puma CEO Bjoern Gulden in his first public comments since taking over in July said that the company "will return to its sporting roots to restore growth to the struggling brand." Gulden's "turnaround plan breaks with the company's efforts over two decades under former chief Jochen Zeitz to strike a chord with fashion-led consumers." Gulden said, "We are a sports company, not a sports lifestyle company." Puma on Friday also said that FY '13 net profit "will fall far below" the $94M in '12, and that Q3 operating earnings fell 19% to $107M (REUTERS, 11/8).