John Doer has come aboard as Cannondales Chief Operating Officer. The former VP of Supply Chain Management at Bell Sports has a solid background in the Cycling industry with a successful tenure at the helmet company.
This appointment comes on the heels of Cannondale emerging from Chapter 11 Bankruptcy with the help of Pegasus Capital Partners, who bought the majority of the bike manufacturers assets. At the close of the deal Pegasus stated that they would be recruiting a new COO and CFO.
“ There are very real opportunities to improve a number of internal operations that will make us a world class supplier to our dealers, and also a better partner with our vendors,” said Doer.
Cannondale attributes much of their recent trouble to a lack of sales in their motorsports subsidiary, which needed substantial funding for R&D, but produced no return. It will not re-open under the new owners.
>>> The move should be seen as positive with the IBD crowd, as some former management still with the company are seen as the root of the company’s problems
