Sports company PUMA has appointed Karthik Balagopalan (42) as the new Managing Director of PUMA India, one of the company's fastest-growing markets. Karthik will start in his new role on August 1.

Karthik has replaced Abhishek Ganguly, who worked for PUMA’s Indian business for 17 years and has been the Managing Director of PUMA India since 2014. Abhishek leaves PUMA to pursue a career as an entrepreneur in his own venture. Abhishek will remain at PUMA until the end of August to ensure a smooth transition.

Karthik who has been with PUMA since 2006, is currently working as Global Director Retail and e-Commerce of PUMA. Prior to leading PUMA’s global DTC business, he held management positions in retail operations and business development at PUMA India. Karthik will report to PUMA CEO Arne Freundt and will be based in Bangalore, India.

“India is a vibrant market, where PUMA has been the number 1 brand for many years. With the appointment of Karthik, we will write the next chapter of this very successful story,” said PUMA CEO Arne 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.”