Stromer: Not New Owner But New CEO
OBERWANGEN, Switzerland – Rumours about changes at Stromer are going around for quite some time. However, the latest announcement is a surprise. Instead of a change of ownership the immediate resignation of CEO Christian Müller is announced. Ad interim BMC chief Erwin Steinmann is now also appointed as myStromer AG CEO.
At the beginning of 2014, ‘company doctor’ Erwin Steinmann was appointed by owner Andy Rihs to optimize costs at the BMC Group of which myStromer AG is a subsidiary. The restructuring included preparations for the divestment of myStromer AG to make this electric bike brand fit for sale or for gaining a new investor. Although Andy Rihs had a five-year business plan for Stromer now fresh capital would be welcome to speed-up market and product development.
However, instead of the announcement of the Stromer sale a statement of the management change was made public by the BMC Group HQ in Switzerland. It says that Christian Müller after exactly three years resigns as CEO. Christian Müller is an industry insider with long years of experience (e.g. at Manitou and DT Swiss) and looked to be a guarantor for continuity; at least at Stromer.
Ongoing sale negotiations
Commenting on the resignation of Christian Müller Erwin Steinmann believes that he probably was fatigued by the ongoing sale negotiations plus the current situation with the Swiss franc revalued by 15% against the euro. Because of this unexpected currency handicap expansion in Europe will in fact be addressed somewhat less aggressive in the near future, but the long-planned US launch of the award-winning connectivity model ST2 shall take place next month very well. Next to that there are now rumours popping up on Made in Germany e-bikes from Stromer
Stromer Executive Board
Steinmann will direct Stromer until further notice; he is assisted by Tomi Viiala (Marketing & Sales) and Adrian Wirz (Finance), both also coming from BMC, and Christian Dörr (Operations), working till to date on a mandatory base for Stromer. All were recently appointed to the Stromer Executive Board.