CEO Ron te Riele Leaves Biretco

BREDA, The Netherlands – The man who turned the Bike Retail Company (Biretco) into the biggest retail organization in the Netherlands, today announces his resignation. Ron te Riele is no longer CEO of Biretco with its Profile, FietsWereld, Bonus Bikes, and Biretco Buying Group formats which serves about 765 shops in Holland, Belgium and Germany. On the reason for his resignation, it is said that it is based on internal conflicts.

Ron te Riele has reigned Biretco for about 12.½ years. When he started, the retail organization was part of the biggest retail company in Holland; Euretco Retail. He successfully launched the ‘Profile’’ shop format later followed by others like ‘FietsWereld’ and ‘Bonus Bikes’. In July 2004 Euretco sold its bike business unit to Te Riele, his Chief Financial Officer (CFO) Erik De Geus and private investor Jan Zeeman. In this transaction Te Riele and his CFO got 16.5 % of the shares and Jan Zeeman 67%. Erik De Geus will take up the tasks and responsibilities of Ron Te Riele until his successor is appointed.
The way Ron te Riele operated during his 12.5 years frequently met with conflicts and legal procedures. Lately criticism on his leadership was building, also within his own organization and from his members. Despite that, Biretco still has over 750 member/dealers in Holland, Belgium and Germany and is by far the biggest retail organization in the Benelux countries. 2006 Turnover (based on consumer prices) was about € 325 million. A recent internal conflict with his CFO and business partner Erik De Geus prompted Te Riele to resign.

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