Urban transportation specialist Tern has announced additions to its leadership team on the back of steady growth in 2022.
Tern has focused on bolstering its executive team, appointing Matthew Davis as chief operating officer, and welcoming Joe Hei as head of strategy and product management, and Venus Ang as director of finance.
Josh Hon, Tern team captain, said: “2022 has been an incredibly challenging year but with a lot of hard work and the support of our partners, we’ve still managed solid revenue growth of 32% over the
“We’ve got lots more growth ahead but 2023 looks even more challenging so we are investing to strengthen our team with some amazing new people.”
With Tern moving into its second decade of existence, the team requires strong leadership with extensive experience in the bike industry and outstanding problem-solving skills. As one of the founding members of Tern, Davis has helped build the company and the brand since its inception and will now help lead the team to face new challenges.
An entrepreneur, designer, and engineer, Hei brings several years of experience building products and brands, having co-founded Orbit Baby and served as chief designer officer of Ergobaby. Hei has also served at IDEO, a leading design and innovation consulting firm, and taught classes in design, design thinking, and business factors at Stanford University’s d.school.
Ang brings over 30 years of experience in a wide range of sectors, from private equity firms and Fortune 500 enterprises to government and non-profit organisations. Having specialised in corporate finance and auditing, Ang has a track record in transforming businesses and getting new initiatives successfully off the ground.
Hon said: “Tern started out a little over a decade ago as a small team spread out across different time zones. Today we are a little more diverse, and a lot more global – with team members of a dozen different nationalities, working together from seven different countries.
“We believe a wider range of backgrounds and worldviews helps us improve everything we do at Tern. And with continued strong demand for our bikes even in these post-Covid times, we’ll continue growing our team in the coming year.”
In addition to welcoming new members to the leadership team and to other departments, Tern has reiterated its commitment to empowering women in the workplace. Currently representing about 45% of the team, women are present in virtually every department and hold key roles in product development, top management, and leadership.
For 2023 and beyond, Tern said it aims to bring that number closer to a 1:1 ratio and to continue fostering leaders.