PUMA SE, branded as PUMA, is a German multinational company that designs and manufactures athletic and casual footwear, apparel and accessories, headquartered in Herzogenaurach, Bavaria, Germany. PUMA is the third largest sportswear manufacturer in the world. The company was founded in 1948 by Rudolf Dassler. In 1924, Rudolf and his brother Adolf Dassler had jointly formed the company Gebrüder Dassler Schuhfabrik (Dassler Brothers Shoe Factory). The relationship between the two brothers deteriorated until the two agreed to split in 1948, forming two separate entities, Adidas and PUMA. Both companies are currently based in Herzogenaurach, Germany. PUMA has been a public company since 1986, listed at the Frankfurt Stock Exchange. Since 2007 PUMA has been part of French group Kering (formerly known as Pinault-Printemps-Redoute or PPR). Since 1 July 2013, the company has been led by former football professional Bjørn Gulden (CEO). As of 2016, PUMA SE employs more than 10,000 people worldwide and distributes its products in more than 120 countries. Following the split from his brother, Rudolf Dassler originally registered the new-established company as Ruda, but later changed the name to PUMA. PUMA's earliest logo consisted of a square and beast jumping through a D, which was registered, along with the company's name, in 1948. PUMA's shoe and clothing designs feature the PUMA logo and the distinctive "Formstrip" which was introduced in 1958.