SRAM’s Stan Day Steps Down; Ken Lousberg Is New CEO
CHICAGO, USA – SRAM announces that Stan Day steps down as CEO of SRAM LLC per January 1, 2019. Ken Lousberg has been appointed as his successor. He was COO of SRAM for the past 18 months. Day will continue to be Chairman of the Board of Directors.
This announcement was made internally in October. Day and Lousberg met with employees at all of SRAM’s facilities to ensure a “firm hand-off of leadership,” Day said.
Leading global expansion
Stan Day has spent more than 31 years leading SRAM through continual growth, brand acquisitions, and global expansion. The company was founded in 1987 with a single product, Grip Shift, and today features hundreds of component SKU’s from SRAM, RockShox, Zipp, Truvativ and Quarq.
SRAM will continue to focus its innovation and business
Reflecting on his 31 years of leading SRAM Stan Day says “It’s been a thrilling ride. When we started we wanted to create and manufacture components that inspired cyclists. We began by making road Grip Shift that didn’t sell very well, and then a mountain bike Grip Shift that took the market by storm. From six people in a dusty factory to over 3,000 global team members offering leading drivetrain, brake, and suspension systems. I am super pleased that Ken has joined the company. It is clear to me that he has the skillsets and experience base to help lead us to the next level. SRAM will continue to be a private company owned by the Day Family and the management team. It will continue to focus its innovation and business within the bike industry.”
Ken Lousberg graduated from Colorado State University with a degree in Mechanical Engineering and received his MBA from the University of Colorado. He has served in numerous senior executive roles. Before his move to SRAM Lousberg served as the president of Terex Cranes and Utilities, which represented over USD 2 billion in revenue and more than 5,000 employees.
“Stepping into the role of CEO is exciting. I feel honored to be asked to lead such a great team, in such a great industry,” Lousberg says. “Stan and the leadership team have provided a great platform to continue SRAM’s arc of growth and we will continue to focus on our customer’s needs, leading product innovation, and maintaining our commitment to our global team and partners.”
With 3,000-plus employees, offices and manufacturing in 15 countries SRAM is the second largest manufacturer of bike components in the world.