Puma (PMMAF.PK) announces its CEO will step down next spring as part of a large corporate...

|About: Puma AG Rudolf Dassler Sport (PMMAF)|By:, SA News Editor

Puma (PMMAF.PK) announces its CEO will step down next spring as part of a large corporate reshuffling by parent PPR at the sportswear company. While beefy rivals Adidas and Nike ride out the sluggish European economy with their larger global footprint helping smooth out sales, Puma is under pressure to cut costs in order to save profits.