May 19, 2011 (Toronto, Canada) – After years as co-CEOs of Cervélo, owners/founders Gerard Vroomen and Phil White have decided that White will now assume sole CEO status for the innovative Canadian bike manufacturer and Vroomen will continue in his role on the Board.
Cervélo’s success has always been driven by a passion for higher performance that is reflected both in their products and in their approach to management. One of the Company’s core strengths has been the flexibility of Vroomen and White to take on changing managerial roles in the day-to-day running of Cervélo over the past 16 years. Today marks another such change.
“We’ve spent the past three months working on the best company structure for the future,” White explained. “We have decided to concentrate our global supply chain in Toronto with European & Rest of World sales management being consolidated from Switzerland to our German office. These steps are currently in process, and the resulting improvements in efficiency have already proven significant.”
“As a result of the geographic re-alignment, it also made sense to look at our own roles,” said Swiss-based Vroomen. “We were already convinced that a sole CEO was the best set-up and these organizational changes allow us to realize that in a way that makes sense. Combining our award-winning engineering team, supply chain management and marketing in the same office, Phil will be able to get the most out of the great people we have. For me personally it means I will still be involved with Cervélo at the strategic level where I add the most value, while also creating some time to work on other projects.”
“2011 is already shaping up as Cervélo’s best year ever as we are seeing increased growth in our main markets,” said White. “With these changes and Gerard’s continuing support with knowledge, strategic guidance and advice, we continue to grow and look forward to the future.”
About Cervélo
Phil White and Gerard Vroomen founded Cervélo in 1995 when their design for a new time trial bicycle, built at the request of a professional cyclist, failed to garner interest from traditional bicycle manufacturers. Today, Cervélo is the largest time-trial bike manufacturer in the world and partner of one of the world’s top pro road cycling teams, Team Garmin-Cervélo. For further information visit: www.cervelo.com.