In March, industry icon Mike Sinyard stepped down as the CEO of Specialized. That precipitated changes at the highest level at one of the biggest bike brands in the world.
Around the time of Sinyard’s announcement, news that Scott Maguire would step in as CEO came out. On May 1, Armin Landgradf made a lateral move from Canyon to become the Specialized’s chief of worldwide markets. Sinyard has been in the CEO position since founding the California bike company 48 years ago. To say that Maguire and Landgradf had big cleats to fill is an understatement. Sinyard remains on as part of the board and as the company’s visionary leader, but the business side now falls in the hands of Maguire and Landgradf.
Maguire came from Dyson, where he was previously senior vice-president of engineering and operations, and then more recently, the chief operating officer. The bike brand knew that the transition from Sinyard to new blood at the helm was an important one. “Specialized is bigger than any one person, including our founder, Mike Sinyard, which means building a team committed to pedalling the planet forward indefinitely,” the company said in a statement. “As a brand and business, we’ll continue to innovate, inspire, and work every day to earn the position as the rider’s and retailer’s brand of choice. We’ll continue to push to find new ways to solve the world’s challenges through the power of the bicycle.”
The former Dyson CEO is no stranger to the business of running a worldwide brand, and with his technical background, the move makes sense for Specialized. As for Landgradf, as the chief of worldwide markets, the plan is for him to lead the company in a direction toward an industry-leading rider-centric ecosystem. Although he is coming from a company, Canyon, that focuses on a direct-to-rider strategy, the California company will keep doing what has worked for it. The company has said that it is committed to continuing to grow with Specialized retailers.
While Landgradf will be based in Germany, he is joining Maguire at Specialized’s Morgan Hill headquarters in May. Landgradf is familiarizing himself with staff and practices. He’ll soon begin to meet retail partners around the world.