Rad Power Bikes has named a brand new CEO, only a few days after its earlier chief stepped down. The e-bike firm has tapped Kathi Lentzsch, who has spent the previous couple of a long time serving to flip round underperforming corporations in each the buyer and B2B areas.
The change comes as Rad Power continues to shift away from direct-to-consumer in favor of a retail-based method — a change in technique that has led the corporate to institute a number of rounds of layoffs over the previous couple of years.
“Rad Power Bikes is at an inflection level, shifting from a direct-to-consumer mannequin to a extra retail-focused method, and it’s an unimaginable time to come back on board,” Lentzsch mentioned in a press release. “This shift creates new alternatives to achieve extra riders, strengthen buyer relationships, and evolve the model in significant methods.”
Lentzsch might be Rad Power’s third CEO within the final three years. Phil Molyneux stepped down from the position earlier this month. He was put in as CEO in 2022 when founder Mike Radenbaugh stepped apart. Radenbaugh began the corporate in 2007.
Rad Power will not be alone in its wrestle to seek out the fitting enterprise mannequin for promoting its electrical bikes. Two of probably the most high-profile corporations, Cake and VanMoof, not too long ago went via chapter restructurings with a purpose to proceed working. And simply final month, two others — Electric Bike Company and Integral Electrics — merged.
