Rad Energy Bikes has named a new CEO, only a few days after its previous leader stepped down. The e-bike firm has tapped Kathi Lentzsch, who has spent the previous few many years serving to flip round underperforming firms in each the patron and B2B areas.
The change comes as Rad Energy 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 multiple rounds of layoffs over the previous few years.
“Rad Energy 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 an announcement. “This shift creates new alternatives to achieve extra riders, strengthen buyer relationships, and evolve the model in significant methods.”
Lentzsch can be Rad Energy’s third CEO within the final three years. Phil Molyneux stepped down from the function earlier this month. He was put in as CEO in 2022 when founder Mike Radenbaugh stepped apart. Radenbaugh began the corporate in 2007.
Rad Energy shouldn’t be alone in its battle to search out the suitable enterprise mannequin for promoting its electrical bikes. Two of essentially the most high-profile firms, Cake and VanMoof, just lately went via chapter restructurings as a way to proceed working. And simply final month, two others — Electrical Bike Firm and Integral Electrics — merged.
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