Dorel’s Bicycle Segment President Departs
MONTREAL, Canada – Dorel is seeking a new Recreational/Leisure segment President with the departure of Robert P. Baird. He has been serving as President for this department, which includes the brands Cannondale, Schwinn, GT, Mongoose, Caloi, IronHorse and SUGOI since 2008.
“We are now initiating a search for Bob’s successor. We thank Bob for his service with Dorel and wish him well in the future,” stated Martin Schwartz, Dorel President & CEO. Dorel did not announce the reason of Baird’s departure.
“Our recreational business has become a billion dollar operation. We have an excellent team in place throughout the organization as well as brands that are highly respected by both dealers and consumers,” said Schwartz.
Recreational/Leisure segment CFO Peter Woods has been named interim president until a new president is named. Both changes are effective immediately.
In Dorel’s third quarter results the company reported that the Recreational segment, grew. Revenue was up 1.2% and operating profit increased 12.7% compared to the third quarter of 2012. Organic revenue decreased by approximately 6% in the quarter as well as year-to-date, which the company ascribes to poor weather in the spring and discounting 2013 models.