The chief executive of PPR, the French company acquiring Puma, was named chairman of the athletic apparel maker's supervisory board, the company said Tuesday.
Francois-Henri Pinault, chairman and CEO of French retail Group PPR, replaced Johann C. Lindenberg, whose term expired last week. The supervisory board is the U.S. equivalent of a board of directors.
PPR is buying Puma in a 5.3 billion euros ($7.1 billion) takeover of the German sporting goods company.
Shares of Puma were down 0.16% to 330.51 euros ($442.98) in Frankfurt trading.