Puma nabs new chief operating officer from Adidas

FRANKFURT Fri May 31, 2013 6:26am EDT

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FRANKFURT May 31 (Reuters) - German sports apparel firm Puma said it has appointed Andy Koehler from crosstown rival Adidas as its new chief operating officer, completing a new line-up for top management.

Majority shareholder PPR has shaken up management at Puma in a bid to improve profits at the group, which trails a distant third behind Nike and Adidas in the market for sports wear and equipment.

Koehler, previously head of global sourcing at Adidas, will join on June 1 and will be part of the team under new CEO Bjorn Gulden.

Gulden joins on July 1 from Danish jewellery chain Pandora .