CHAPEL HILL, NC (BRAIN)—Performance Bicycle chief executive officer Jim Thompson has exited the company, according to sources close to the matter. Chief marketing officer Cindy Marshall has also left the company.
Thompson took over as CEO in 2008. A year prior private equity firm North Castle Partners of Greenwich, Connecticut, acquired Performance.
Before joining Performance Thompson was president and chief executive officer of Golfsmith International, a leading multi-channel retailer of golf and tennis products.
Sources familiar with the matter told Bicycle Retailer and Industry News that the board and North Castle Partners were hoping for quicker results from Internet sales, something they felt Thompson wasn’t able to deliver during his three-year tenure.
Calls to Performance Bicycle seeking comment were not answered.
Marshall joined Performance in June 2010 from Pace E-Commerce where as president she was responsible for a number of major retail websites.
Performance Bicycle operates more than 100 storefronts nationwide. It’s a wholly owned subsidiary of Performance Inc., which also sells through catalogs and its online store, performancebike.com.