Cannondale loses second CEO in five weeks
Cannondale has lost another chief executive officer. Montreal-based Dorel Industries, owners of the Cannondale, Schwinn, GT, Mongoose and Sugoi bicycle brands, has announced that Jeff Frehner, president and chief executive officer of the Cannondale Sports Group (CSG), has decided to leave the company for “family reasons.” CSG is one of two divisions of Dorel’s Recreational/Leisure segment. Robert P. Baird, Jr., president of the segment, will oversee operations at CSG until a replacement is named.
Matt Mannelly, Frehner’s predecessor, left July 29, agreeing to stay for a transition period until September. Mannelly was appointed president of the Cannondale Brand in 2003 and named CEO in 2005.
“We are sorry to see Jeff leave,” Baird said.” As the former president of Madison, Wisconsin based Pacific Cycle, Jeff and his family have developed strong roots in that community. He has found it difficult to accommodate an extensive business travel schedule and the need to be physically present in Bethel, Connecticut, headquarters of the Cannondale Sports Group.”
Frehner had quickly risen through the ranks at Pacific Cycle, starting as general counsel in 2002 before taking over for founder Chris Hornung in December 2006. Pacific acquired Mongoose in 2000, Schwinn and GT in 2001, and was itself acquired by Dorel in January 2004. Dorel acquired Cannondale and Sugoi in February 2008 for US$200 million.