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Rad Power Bikes CEO Steps Down Amid Strategic Reshuffling
In a sudden move, Phil Molyneux has stepped down as the Chief Executive Officer (CEO) of Rad Power Bikes, effective immediately. The company’s Chief Financial Officer (CFO), Stephanie Roberts, will take over as interim CEO while a permanent replacement is being sought.
This development comes on the heels of a fifth round of layoffs in under four years for the electric bicycle manufacturer, which has been grappling with the challenges faced by many e-bike brands in the industry. The company cited a need to “support a more significant focus on physical retail” as the reason behind the layoff and leadership shake-up.
Molyneux had taken over as CEO in 2022, following the departure of previous CEO Mike Radenbaugh. His tenure has been marked by significant growth for the company, but it appears that this new strategy will require a fresh perspective at the helm.
The news comes as Rad Power Bikes faces increased competition from other e-bike brands and industry giants looking to capitalize on the growing demand for eco-friendly transportation options.
Rad Power Bikes has announced its intention to refocus its efforts on physical retail, which the company believes is essential for its future success. This shift in strategy is expected to result in significant changes to the company’s operational structure.
Molyneux will reportedly continue to serve as an advisor to the company, ensuring a smooth transition into this new era.
Source: https://techcrunch.com/2025/03/10/rad-power-bikes-ceo-steps-down/
