Puma chief supply chain officer resigns

Reiner Seiz, chief supplier chain officer at German athletic wear brand Puma, has resigned a day after it was revealed chief executive Franz Koch is to leave the business next year.

Seiz, who is said to be leaving the company amicably, will step down on January 31. The firm said his successor will be announced at a later date.

Seiz has been with the company for 23 years, serving as chief supplier chain officer and a member of the management board since 2008. He has been responsible for leading the sourcing organization Puma World Cat, as well as the brand’s worldwide supply chain management.

The news comes after chief executive Franz Koch said he will step down next March as the company ramps up plans to restructure its business.

Puma, which has been hit hard by the economic slowdown in Europe and curbs in consumer spending, began restructuring its European and global operations last year. It has also revealed plans to downsize its product range by 30% before the end of 2015.

However, the sportswear brand saw its third-quarter net earnings plunge 85.1% to $218.5 million, primarily due to $104.5 million in one-off restructuring costs.

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