April 19, 2024 - (Monterey, CA) Kent Outdoors, the owner of Kona Bicycles since 2022 (read more here), has hired Rob Otto as its new chief financial officer (CFO) amidst turmoil at the Sea Otter Classic, which runs April 18-21 in Monterey, CA. Apparently Kona staff abruptly tore down their booth and exited the event as reported by Bicycle Retailer and Industry News (BRAIN).
On April 17, a company “town hall” meeting for staff was reportedly held in Monterey, and the next day it was announced that Otto had been appointed as the new CFO. Rumours have been swirling regarding financial concerns as Kona’s new consumer-direct sales program was not met favourably by bicycle retailers, and there have been buy-one-get-one free promotions.
Kona Bicycles is led by Lee Belitsky, a former executive at Dick’s Sporting Goods, and it’s hoped that the new CFO, who has experience at multiple consumer packaged goods companies, can bring some stability and guidance to the company.
Kona Bicycles dates back to 1988, and the global cycling company is renowned for its mountain bikes and cyclocross bicycles. Founded in 1959, Kent Outdoors, owns more than 15 brands including Kona Bicycles, HO/Hyperlite, Connelly, O’Brien, Liquid Force, Onyx, Aquaglide and more.
