January 25, 2023 - Rad Power Bikes has appointed Phil Molyneux as its new CEO, which follows the move in November by founder and former CEO, Mike Radenbaugh, to step down and become chairman of the board to focus on e-bike advocacy and innovation.
The company has been one of the fastest-growing e-bike brands in the U.S. after it announced an injection of over $154 million of financing in Nov. 2021 (read more here) to become the most funded e-bike company in the world.
Rad Power Bikes claims to have 523,868 riders and opened its sixth showroom store in Salt Lake City in July 2022, but has also been challenged with recalls, layoffs, and lawsuits by customers claiming faulty products which the company denies.
The new CEO sent the letter below as a form of introduction.
Dear valued Rad rider,
I’d like to take a moment to introduce myself and give you a behind-the-scenes look at some of the exciting work we’re doing to improve your experience as a member of our community.
My name is Phil Molyneux, and I’m the new CEO at Rad Power Bikes. I was born in England, reside in San Diego, and consider myself fortunate to live in an area that’s ideal for impromptu ebike rides.
Our founder, Mike Radenbaugh, brought me on board in March of 2022. As with many founders, as the company grows they value bringing on more seasoned leadership. As someone who began building racing motorcycles in their youth, I was proud to accept the torch from a like-minded, former teenage tinkerer.
I was drawn to Rad because I have a lifelong affection for developing world-class products. If you’ve ever enjoyed a Dyson appliance or a Sony Electronics item within the past few decades, for instance, there’s a good chance that I’ve had a hand in it. The opportunity to work with new products that promote sustainability sealed the deal.
Since its inception, Rad Power Bikes has set both the pace and the standard for the ebike revolution. This road hasn’t always been easy and we’ve faced numerous challenges.
As a young company, we recognize that we have made mistakes. Now we are dedicated to learning from them.
The culmination of these efforts represents the “New Rad,” one that combines the forward-thinking innovation of our early years with the knowledge and resources to make us more customer-focused than ever before.
This begins with a laser focus on safety and reliability. From the design phase, through component validation methods, to the ever-improving quality assurance activities within our factories, we are doubling down to ensure safer, more enjoyable rides.
In addition to improving the quality of our products, we are deeply invested in delivering a delightful customer experience, both on and off the saddle.
We acknowledge that there is still room for growth in our customer support operations and are actively working to improve them. For those who need to connect with a Rad specialist, we are continuing to explore ways we can provide more immediate help, including a new chat function that we launched in December. In addition, we will be revamping our online help center to make it easier for you to find the self-help resources you need to keep riding. As we implement these remedies throughout the year, we hope that you’ll notice the difference the next time you reach out to us for assistance.
These changes will keep Rad on a more sustainable path and allow us to better address your most pressing ebike needs.
We are excited about the future of Rad and the impact we can have on the world. We couldn’t be more thrilled to be on this journey with you.
Thank you for your continued support and loyalty.
—Phil Molyneux
