Published October 3, 2003 01:00AM
By VeloNews Interactive
The parent company of Cannondale Corporation has sacked three vice presidents, including the son of the company’s founder, according to the trade journal Bicycle Retailer & Industry News.
Those dismissed Wednesday by majority stockholder Pegasus Capital Advisers include Scott Montgomery, vice president of marketing and son of Cannondale founder Joe Montgomery; Dan Alloway, vice president of sales and a 15-year Cannondale employee; and Len Konecny, vice president of purchasing, according to the trade journal.
Attempts to contact Scott Montgomery were unsuccessful.
Cannondale’s Tom Armstrong explained that, “although the news was shocking to everyone here at Cannondale I think, for the long-term, it will benefit the company. This move was just one piece of the larger executive reorganization of the company which will help position us well for the future. Unfortunately that had to come at the expense of Scott, Dan and Len, but we wish them the best and know that they’ll land on their feet soon enough.”
Montgomery was replaced by Matt Mannelly, former chief marketing officer for the U.S. Olympic Committee. Mannelly also held management positions at Nike and was Gatorade’s director of marketing.
David Manchester, a longtime Cannondale employee, replaced Alloway. Steve Metz, Cannondale’s longtime bike product manager, was named vice president of sourcing and product management, replacing Konecny.
Pegasus reportedly has made other changes in the Cannondale management team as well, promoting Jean Benson to vice president of human resources and Rick Hinson to director of materials; and naming John Doerr, president of operations, as chief operating officer.
David Uri, a director of Cannondale and a partner at Pegasus Capital Advisors, told Bicycle Retailer that the changes provide Cannondale “with the internal organization needed to realize our goals of strengthening and growing Cannondale, and making us a more consumer and market-driven company.”
Uri was quoted as saying that Pegasus remains committed to manufacturing in the United States and to keeping Cannondale’s image at the high end.
“We are working with consultants to meet dealer demand efficiently. We need to serve our customers better,” Uri said. “We know it won’t happen in a week or a month, but we will be very methodical. We want to grow profitably, not just grow.”
Uri and the new management team will be meeting with Cannondale dealers and vendors during the upcoming Interbike trade show in Las Vegas. Meetings are scheduled at 9 a.m. and 10:30 a.m. Monday, October 13, in room 102 of the Sands Convention Center, downstairs from the main exhibit hall.