Puma’s chief commercial officer (CCO) Stefano Caroti will leave the company at his own request effective 31 December 2014.

A corporate statement said that Caroti was leaving for family reasons and that Puma/The Kering Group and Caroti will remain on cordinal terms after the resignation.

His responsibilities will be taken over by Puma’s CEO Bjørn Gulden, effective 1 January 2015.

Caroti has been part of Puma AG’s management board from August 2008 and was appointed managing director of Puma SE in July 2011. Previous to joining Puma, he has been with Nike where he occupied the position of Vice President EMEA Commerce most recently.