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Rapha Racing sees its CEO leave the post after less than one year at the helm of the UK cycling brand.
The confirmed that William Kim will step down as CEO, with Francois Convercey and Daniel Blumire taking over as joint managing directors, officials announced Friday.
Kim said personal reasons were behind his decision, and he would relocate to Korea to be with his family.
“As you can imagine, this has been a very difficult decision for me to make,” Kim said in a note to Rapha staff. “Over the last year, I’ve grown to love the Rapha brand. Rapha is an amazing business, made of great people and a unique culture, a tight-knit community. You are each contributing to building a very special brand here at Rapha. It has been a privilege to experience how magical cycling is and I know you will continue to thrive and lead the industry.”
Kim joined Rapha at the end of 2021 after working at All Saints, Burberry, and Gucci during a 30-year career. He succeeded Rapha founder Simon Mottram, who had been at the helm of the brand for 17 years. Mottram remains on the Rapha board of directors, officials said.
Mottram, who founded Rapha in 2004, sold the company in 2017 for $260 million to RZC Investments, a private equity firm run by Steuart and Tom Walton, grandchildren of Sam Walton, founder of Walmart.
Francois Convercey, former chief brand and marketing officer, and Daniel Blumire, a former chief commercial and product officer, are both long-time Rapha employees, and have been at the forefront of the brand’s expansion in recent years.
“We are both equally passionate about the Rapha brand, our company culture and values. Rapha created a market and a benchmark for performance and style-forward cycling clothing, and is well positioned to continue to expand and inspire the world to live life by bike,” a statement read.