March 28/02 5:58 am - SRAM-RockShox Deal Completed, USCF Looks for CEO
Posted by Editor on 03/28/02
SRAM Completes Acquisition of RockShox
ROCKSHOX, Inc. (RSHX.OB) - a leading developer of high performance mountain bike suspension products - today announced that it has completed the sale of the business to SRAM Corporation, which was earlier announced on February 19, 2002.
"We are very pleased to complete the sale process, and we are now completely focused on running the business and on integrating RockShox with SRAM," commented Bryan Kelln, President & CEO of RockShox. "Under SRAM's leadership, we are forming global integration teams, which will work together over the coming two months to put together specific objectives, plans and timelines. Later this spring, we will have a specific set of initiatives designed to integrate the businesses, enhance customer satisfaction, and accelerate product development, all the while reducing the cost structure."
"We look forward to building on what the RockShox team has achieved over the past few years. They drove significant restructuring, taking out more than $10 million in cost. In addition, they truly enhanced the product line and gained market share. They have created a nice platform from which we can continue to improve," commented Stan Day, President of SRAM corporation. "Now, with our combined product development capabilities, RockShox' strength in the mountain bike segment and SRAM's strength in the pavement sector, we are poised to take both businesses to a higher level of performance. Clearly the strategic fit made sense for the industry; with our complementary product lines we can bring more value to the global bicycle business in a "one stop shopping" environment. We see a clear path to enhanced and integrated product lines, a better cost structure, and superior customer service. Our objective in the integration will be to merge the strengths each company brings to the table. Each business can help the other move to the next level."
USA Cycling Chief Executive Officer
USA Cycling seeks a new CEO. USA Cycling is the governing body for competition in road cycling, mountain biking, track cycling, BMX and cyclo-cross in the United States. USA Cycling is a member organization of the United States Olympic Committee and the Union Cycliste Internationale.
The CEO is responsible for managing all operations of the USA Cycling organization. The CEO will work with the Board to define a strategic plan to achieve the dual mission of USA Cycling: to achieve sustained success in international cycling competition and grow competitive cycling in America.
To achieve the mission, the CEO will ensure that his/her staff will execute the plan in a professional, financially responsible, sensible and positive manner and will focus on three major areas: athletic performance, member services and funding. The CEO will develop a rolling four-year business plan and an annual budget for approval by the Board, and organize the USA Cycling management team to deliver on this mission.
Athletic performance goals include specific target levels for medals in Olympic, World Championship and other elite international events. A high priority will be placed on building the athlete development pipeline leading from junior racers at the grassroots level to elite international competition. Growth in competitive cycling will be measured by the number and quality of opportunities for USA Cycling members to race their bikes in the various disciplines. Growing the number of USA Cycling members will be an important goal, and will require working with promoters, event sponsors and clubs. The CEO will also need to work to attract more sponsor dollars to USA Cycling to provide more resources to meet the above goals. The CEO will also work with the USA Cycling Development Foundation, USAC's fundraising arm, to attract more resources into the organization as well as to identify the athlete programs to submit as part of an annual grant application. The CEO will sit as a member of the Foundation board and provide regular feedback to the Foundation on results achieved against those planned in the grant application.
The ideal candidates would have at least 15 years of business experience with successful profit and loss experience in managing a sports-oriented organization, preferably run by a volunteer Board. He/she must have a sensitivity to the Olympic governing body "culture", yet be committed to "world class" operations both in terms of a professional business and sports organization coupled with experience in developing athletes, promoting events, generating revenue, managing a non-profit budget and developing an operationally efficient business. The selected candidate must be able to communicate and effectively work with the various member constituents which include sponsors, donors, athletes, promoters, and volunteers so that their needs and the association's objectives are met. Proven experience in working cooperatively with volunteers and other organizations, and making tough decisions in addition to a proven track record in managing a staff, is a must.
The ideal candidate should be an effective communicator. He/she must have an ability to demonstrate independence from any existing constituency or political interest, yet seek a consensus. He/she would not seek confrontation, but would be willing to deal with it promptly yet sensibly being mindful of the various constituent needs. He/she should be considered highly respected and credible. A leader who is charismatic, competitive, enthusiastic about the sport of cycling, competitions, athlete development, in addition to being able to motivate everyone toward excellence and pride in his/her work, including one's own is a must. His/her actions, work ethic and enthusiasm ought to inspire enjoyment, respect and confidence in a staff and create a positive, open, friendly, cooperative work environment that challenges individuals to achieve their best and affords them an opportunity for growth and creativity. He/she should be a polished executive with high creativity, energy, integrity, patience, diplomacy and credibility.
The anticipated start date for the new CEO is targeted for the middle of June 2002.
Interested applicants can go to Here to apply for the position online. For more information or suggestions, contact:
TeamWork Consulting, Inc.
3645 Warrensville Center Road #246
Shaker Heights, OH 44122
T: 216/767-1790 x204