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Gazelle CEO Resigns

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DIEREN, the Netherlands – Yesterday, Ruud Sjamaar CEO of Gazelle left the Dutch bicycle manufacturer. The board of supervisors of owner Gilde Investments has accepted his resignation. The reasons for Sjamaar to leave Gazelle are

Gazelle CEO Resigns

DIEREN, the Netherlands – Yesterday, Ruud Sjamaar CEO of Gazelle left the Dutch bicycle manufacturer. The board of supervisors of owner Gilde Investments has accepted his resignation.

The reasons for Sjamaar to leave Gazelle are disappointing 2007 sales and the repeatedly postponed introduction of the Orange Innergy e-Bike. This e-Bike will be available this month while its introduction was already announced for last autumn. With that Gazelle failed to cash in on the booming e-Bikes sales in Holland last year.

2007 Financial Results

Sources say that Gazelle’s 2007 financial results were although ‘satisfying’, targets have not been reached. Due to that the board of directors handed in their resignation last January 17th. Yesterday, it was announced that Sjamaar’s resignation has been accepted. The other members of the board of directors have been asked to hold their position. COO Eelco Spaans has been appointed as deputy CEO.

Ruud Sjamaar started at Gazelle three years ago and previously worked for Unilever. At Gazelle he implemented an internal reorganisation aiming at improving the company’s record on meeting dealer delivery schedules and improving the return on investment. 

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