Abhishek Ganguly will step down from his role as the managing director of Puma India and its global director of retail and e-commerce Karthik Balagopalan will take on the post from August 1, the company announced on Thursday.
Ganguly had been the MD of the company since 2014. "Abhishek leaves Puma to pursue a career as an entrepreneur in his own venture," the company said.
Balagopalan has been with Puma since 2006. Prior to leading Puma's global direct-to-customer (DTC) business, he held management positions in retail operations and business development at the company.
He will report to the company's chief executive officer (CEO) Arne Freundt.
"With the appointment of Karthik, we will write the next chapter of this very successful story," said Freundt. "I would like to thank Abhishek for his energy and commitment over the past 17 years and wish him all the best for his future as an entrepreneur."
The company also announced that Ganguly will remain at Puma until the end of August to ensure a smooth transition.