Sporting goods firm Puma has announced that its chief financial officer Dieter Bock is to resign for personal reasons.

Bock, who has been with the company since 1979 and a member of the board of management since 2005, will leave on 1 August this year.

Puma said that its senior executive vice president Klaus Bauer will replace Bock as member of the board of management then, and assume the newly created position of chief operating officer. The move will see Bauer take over responsibility for finance, controlling, legal, operations, logistics, IT, and human resources at the firm.

Bock will remain in charge of finance until he leaves the company this summer.
Jochen Zeitz, chairman and CEO of Puma, said: "We are pleased to welcome Klaus Bauer as a new Member to the board of management of Puma in August this year. He brings along an extensive experience in different management positions within Puma and has an outstanding knowledge of organising, leading and managing the full range of operational business processes.
"We regret that Dieter Bock has made the decision to leave the company and are grateful for his successful work at Puma for many years. In more than 30 years that he has been with the company, he achieved a great track record and contributed significantly to the company's financial performance in the last years and Puma's current solid financial position."