BETHEL, CT (BRAIN)—Matt Mannelly, president and chief executive officer of Cannondale, is leaving Cannondale.
He has agreed to stay for a transition period until September. Jeff Frehner, president and chief executive officer of Dorel's Cannondale Sports Group, will be assuming all direct leadership responsibilities for the company.
Mannelly was appointed president of Cannondale in 2003 and named chief executive officer in 2005.
"Cannondale as a brand is second to none in any industry and has incredible potential with an extraordinary culture of dedicated and passionate people. The team here has done a tremendous job over the last five years. More importantly, the future is very bright for the brand and there is an excellent leadership team in place led by Jeff Frehner," Mannelly said. "I've enjoyed the people at Cannondale. We make the best product in the cycling industry. I will continue to be a Cannondale advocate as long as I can pedal. I'm looking forward to my next opportunity; one I earnestly hope has people as passionate and a brand as strong as Cannondale."
Following the Dorel acquisition, Frehner, formerly president and chief executive officer of Pacific Cycle, was appointed president and chief executive officer of the Cannondale Sports Group, a new Dorel division established and dedicated to growing the Independent Bicycle Dealer channel (IBD).
"We appreciate Matt's significant contributions during his tenure at Cannondale. I'm looking forward to working directly with the passionate bike folks at Cannondale as well as the rest of the Cannondale Sports Group. Our goal is to be the leader in the IBD channel—so there's still a lot of opportunity out there for us. I wish Matt the best and I'm pleased that we will be able to continue to seek his counsel from time to time," Frehner said.