After more than 10 years at Wattbike, Richard Baker has decided to step down as CEO.
Stephen Loftus, who was recently announced as joining Frog bikes as a non-executive director, will take over from Monday, May 1.
Baker will remain involved as a special advisor to the board.
Baker joined Wattbike in 2011 and has played a key part in the growth and success of one of the leading indoor cycling brands.
He was at the heart of the successful launch of the Wattbike Atom and steered the company through the pandemic after becoming CEO in 2018.
Baker said: “After 10 fantastic years, it is time for me to step back and allow a fresh management team to continue Wattbike’s successful story.
“I am immensely proud of what we have achieved – the team, products and brand we have built.
“I’m excited for the team going forward under Stephen’s leadership and to support in my new role as a Special Advisor. With Stephen’s background, experience and approach, I am confident he will take Wattbike to new heights.’
Loftus was, until recently, chief commercial officer at Brompton where he helped the folding bike business quadruple in size and become an international omnichannel brand.
Last month, Loftus was announced as joining British children’s bike brand Frog Bikes as non-executive director, to help accelerate international expansion on a part-time basis.
Before Brompton, Loftus worked in sales, marketing and innovation roles in the international drinks industry – for companies including Diageo, Red Bull and Constellation.
Loftus said: “I am passionate about working for businesses that improve fitness and wellbeing and helping them fulfil their international potential.
“Wattbike is a unique product that started with Olympic and professional athletes as an innovative data-driven training tool to significantly improve their performance, and now serves a much broader customer base.
“I look forward to helping the talented team let more people worldwide discover how a Wattbike can change their life for the better, delight customers with continuous innovation and fulfill the potential of the business. I am grateful for Rich’s support as I step into this exciting new role.”
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The news follows a busy period for the brand, which appointed Greg Nieuwenhuys as chairman in March.
Nieuwenhuys is currently chairman of Mammut Sports Group, a leading Swiss mountain brand, and was previously CEO of the leading UK retailers Cotswold Outdoors, Snow+Rock and Runners Need.
In 2020, Wattbike received an £11.5m investment from consumer brands specialist Piper to help fuel growth in the UK and further penetrate the US and Asian markets.
Nieuwenhuys said: “I am grateful for everything Richard has done for Wattbike and that he will continue to be involved in the journey ahead.
“With Stephen we have found a strong leader with a great track record, especially in sales and marketing, and I am excited about working with him, the team and our investors Piper to deliver this next chapter of growth for the brand.”