Rad Energy Bikes has named a new CEO, just some days after its earlier chief stepped down. The e-bike firm has tapped Kathi Lentzsch, who has spent the previous few a long time serving to flip round underperforming corporations in each the buyer and B2B areas.
The change comes as Rad Energy continues to shift away from direct-to-consumer in favor of a retail-based strategy — a change in technique that has led the corporate to institute a number of 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 strategy, and it’s an unbelievable time to return on board,” Lentzsch mentioned in a press release. “This shift creates new alternatives to succeed in extra riders, strengthen buyer relationships, and evolve the model in significant methods.”
Lentzsch will probably 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 just isn’t alone in its battle to seek out the appropriate enterprise mannequin for promoting its electrical bikes. Two of essentially the most high-profile corporations, Cake and VanMoof, just lately went by way of chapter restructurings with a purpose to proceed working. And simply final month, two others — Electrical Bike Firm and Integral Electrics — merged.
