Fox Racing, the maker of motocross and mountain bike gear and apparel, announced that Jeffrey McGuane will be joining Fox as chief executive officer, effective June 3. Paul Harrington, operating partner of Altamont Capital Partners, who has served as Fox CEO since 2015, will move to the board of directors and assist with the transition.
The hiring follows a thorough search process conducted by its board of directors.
“The board and I are thrilled to have Jeff join the Fox team as CEO,” said Harrington. “During the search process it was clear he is a proven leader with an impressive track record of creating innovative products and successful go-to-market strategies around the world. We are confident Jeff is the ideal person to lead the company through its next chapter.”
McGuane comes to Fox from Specialized Bicycles as the U.S. general manager and leader of global markets where he returned the company to double-digit growth over the past three years, expanded market share and increased gross margin dollars for both Specialized and their retail partners. Prior to joining Specialized, He was president and CEO of ONE Industries from 2013 to 2015. From 1994 to 2013, McGuane was part of the executive team at Cannondale which grew the company from a $50 million industry niche player to a $500 million global business and the third largest premium bike brand in the world. Additionally, as a director of the doard of Transamerican Auto Parts, McGuane worked to successfully transition the company from private equity ownership to Polaris Industries in 2016.
“With deep roots in motocross history, Fox has built a strong, authentic brand that consumers trust and respect, proven by decades of success,” said Keoni Schwartz, co-founder and managing director of Altamont Capital Partners. “As investors in Fox, Altamont is extremely pleased to welcome Jeff as the new CEO. Jeff’s extensive experience of growing businesses and creating winning strategies across MTB and MX products make him a natural fit.”
“I am really excited to join the Fox Racing team,” said McGuane. “I have always admired the Fox brand and all its commitment since 1974 to design and create innovative products that inspire riders around the world. I look forward to building on this vision and legacy of global leadership in technical gear and apparel.”