PPR's Pinault Named Chairman of Puma's Supervisory Board

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.