Derby Cycle CEO Mathias Seidler hands over his title to Thomas Raith Sept. 30 after 14 years as the head of Germany's largest bicycle maker.
Seidler was appointed managing director at Derby Cycle in 2001 and built up the company to become second largest European bicycle manufacturer. Under his leadership the company focused on the IBD channel, on the global expansion of MTB and road bikes and on the e-bike boom in Europe. The successful IPO in 2011 was followed by a friendly takeover of the Pon group of the Netherlands. Pon has since acquired Toronto-based Cervélo and formed Pon Bicycle Group.
“Two years after the takeover Derby Cycle is now fully integrated into the Pon group,” said Seidler. “This is a good time for a change. I am proud to have contributed to the success story of Derby Cycle and wish the new management as much fortune.” Seidler will support the company as a counselor for another year.
Successor Thomas Raith, former managing director of Magura, joined Derby Cycle as director sales, marketing and product management mid-2013.
“Derby Cycle has become the market and innovation leader over the recent years,” said Raith. “It will be my goal to develop this position further with the help of the existing management team. A growing focus on retailers worldwide, the globalization of our performance brands and a stable growth of our leading position in e-bikes in Central Europe will be the key strategic tasks.”
As a longtime manager of Magura, a major supplier to the European bicycle industry, Thomas Raith possesses extensive global knowledge of the industry and is well equipped for his task.
The completion of the Derby Cycle integration into the Pon Bicycle Group assures on-going synergies to profit from. One example is the transfer of European production and distribution of Canadian high-end Cervélo bike brand owned by Pon Bicycle Group to Derby Cycle.
