Rad Power Bikes was appointed as the new CEO just days after his former leader resigned. The e-bike Company tapped Kathi Lentzch, who has helped turn down underperforming businesses in both consumer and B2B spaces.
This change is a change in the strategy of launching multiple layoffs over the past few years as Rad Power continues to move away from direct consumers in favor of a retail-based approach.
“Rad Power Bikes is at an inflection point, shifting from a consumer model to a more retail-focused approach, and it’s an incredible time to take part,” Lentzsch said in a statement. “This shift creates new opportunities to reach more riders, strengthen customer relationships and evolve brands in meaningful ways.”
Lentzsch will become Rad Power’s third CEO in the last three years. Phil Molyneux resigned from the role earlier this month. He was founded as CEO in 2022, with founder Mike Radenbaud coming aside. Radenbaugh founded the company in 2007.
Rad Power isn’t just struggling to find the right business model to sell electric bikes. Two of the most well-known companies, Cake and Vanmoof, recently went through a bankruptcy restructuring to continue operations. And last month, two other people – an integrated electric and electronics merged with electric bicycle companies.