According to a report in Bicycle Retailer, Scott Sports will be appointed by former board member Joo-won Kim in a move that will “reshape Scott's development and make it a world-class manufacturer of bicycles and other outdoor sports categories.” He will lead. New CEO Juwon Kim will receive advice from Steve Meineke and Mathias Seidler, who will provide insight into the bicycle and outdoor gear industry.
Mr. Juwon Kim has 17 years of experience in investment banking and was the head of growth strategy and M&A at Youngone Corp., a majority shareholder in Scott Sports. Recently, Youngone Corp loaned his Scott Sports 150 million Swiss francs ($166 million), of which he loaned 100 million Swiss francs. The deadline for payment of francs is January 2, 2025.
A Scott Sports press release announcing the CEO change said: “Scott's Board of Directors emphasizes that major shareholder Yongwan's long-standing commitment to Scott remains central and cannot be questioned.'' “I will.”
Kihak Sung, chairman of Youngone and member of Scott's board of directors, said: “Youngone is a strong partner and long-time shareholder of Scott. We believe strongly in Scott, its cutting-edge products, and its dedication. “We strive to improve the quality of our people. The changes will position Scott for future growth and market share as we emerge from the industry's current crisis.”
