PUMA India Managing Director Karthik Balagopalan steps down

Confirming the news in an official statement, PUMA India said, “Karthik Balagopalan has decided to leave PUMA and has stepped down as the Managing Director of PUMA India to focus on family priorities in Germany.” 

The company expressed gratitude for his long-standing service and leadership, adding, “We will officially announce his successor soon. We wish Karthik all the best.”

Balagopalan’s leadership journey was shaped within PUMA, where he began in 2006 as Retail Operations Manager. Over the years, he held several key positions, including Global Retail and e-Commerce Director and Senior Manager of Growth Markets. 

Balagopalan had stepped into his current role when Abhishek Ganguly, PUMA India’s long-standing MD, stepped down after a 17-year tenure with the company.

Interestingly, PUMA’s former Global CEO, Arne Freundt, with whom Balagopalan worked closely, also stepped down on April 11, 2025, after 14 years with the brand. Freundt was succeeded by Arthur Hoeld, who officially took over in July this year. 

Before joining PUMA India, Balagopalan worked with Reebok and Godfrey Phillips India. 

On the academic front, he holds an MBA from the Management Development Institute, Gurgaon; a business program credential from EDHEC Business School; and a bachelor’s degree in Economics from Fergusson College.