PPR chief named to PUMA board

PARIS PPR has announced that the supervisory board of PUMA unanimously elected Francois-Henri Pinault, ceo of PPR as chairman of the supervisory board. Following approval on June 15 of the takeover for PUMA by the antitrust authorities and the appointment of three members of PPR's senior management to PUMA's supervisory board.

Pinault stated: "I would like to thank the supervisory board of PUMA for appointing me. The new structure of the supervisory board fully reflects the role we wish to play in partnership with Puma. I should add that the offer acceptance period expires tomorrow. This offer represents a unique opportunity for Puma shareholders to extract full value from their shares."