Giant Manufacturing Co., parent to Giant Bicycles, is shaking up its leadership team for the new year, including the retirement of its longtime Chairman King Liu and CEO Tony Lo, both of whom had been with the company for more than 40 years.

Effective January 1, 2017, Liu will be succeeded by Giant Executive Vice President Bonnie Tu as the company’s new chairperson, while Lo will be succeeded as CEO by Giant COO Young Liu, the son of the soon-to-be-former chairman.

“Facing the challenges in globalization and modernization, the new management team will focus on three key operation goals,” Giant officials said, including “smart manufacturing, the integration of online and offline distribution channels and offering consumer centric innovative products and services. The ultimate goal is to transform Giant into a service company that is best at engaging and communicating with consumers.”

Lead Photo courtesy Giant; Young Lui and Bonnie Tu