Phil Molyneux has resigned as CEO of Rad Power Bikes, with Chief Financial Officer Stephanie Roberts stepping in as interim CEO while a replacement is sought. This change follows multiple rounds of layoffs and reflects a broader strategic shift towards focusing on physical retail. The e-bike market is challenging, with several brands facing financial difficulties. Rad Power is re-evaluating its strategy and downsizing its direct-to-consumer segment, aiming to better support its mission and loyal riders through this transition.
Rad Power Bikes undergoes significant leadership change with CEO Phil Molyneux stepping down amid strategic reshuffling and challenges within the e-bike market.
The transition to a more retail-focused strategy necessitated the latest layoffs and a reassessment of company direction, impacting key roles within the organization.
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