Gene`s BMX News

[BMX-News]

*** Dorel Restructures Executive Team ***

Bethel, CT -- 12/02/2008



Cannondale Sports Group (CSG) has restructured its executive
team to facilitate its financial and production operations, as well
as streamline and accelerate its sales and marketing efforts
around the world.

Six new executive positions have been created within CSG, with
each executive focused on responsibilities associated with all four
brands under the CSG umbrella: Cannondale, GT, Schwinn and
Mongoose.

Together, the expanded CSG executive team will develop and
build improved global product architecture and brand direction.

Additionally, the new team will work to expand growth within the
critical Independent Bike Dealer (IBD) sales channel, a key element
to creating single-point accountability within CSG that will also help
focus CSG’s drive to generate accelerated results.

The individuals serving in the new executive positions are:

Bob Kmoch, global chief financial officer: Kmoch will direct all
aspects of financial planning and accounting, including reporting,
AP/AR, tax, internal controls/Sarbanes-Oxley compliance, audit,
treasury, insurance, payroll, cost accounting and pricing.

Ron Lombardi, global chief operating officer: Previously,
Lombardi oversaw global operations for the Cannondale brand.

In his expanded role as global chief operating officer for all of CSG,
he will direct operations for all four CSG brands, including overseeing
manufacturing, warehousing, IT, legal and quality.

Bruno Maier, executive vice president global marketing:
Maier will now be responsible for directing global brand
strategies and brand marketing for all CSG brands.

Steve Reeds, executive vice president product development
and sourcing: Reeds will lead global product development and
sourcing for all CSG brands.

Dave Manchester, senior vice president sales: Manchester,
formerly vice president of sales for Cannondale will now
oversee sales responsibility for all of the CSG brands in
North America.

Jeff McGuane, president of CSG International: McGuane,
formerly President of Cannondale Europe, will take on the
expanded responsibilities for sales of all CSG brands out
side of the U.S.

Additionally, Bob Baird will continue in his current position
within CSG as its acting president. Baird also serves as the
president of Dorel’s Recreational/Leisure segment.

“Dorel is committed to becoming one of the top companies in
the world in the cycling industry,” Baird said. “To do this, we
need to have the very best people leading the charge on a
global basis.

I believe that by creating these executive positions inside
Cannondale Sports Group (along with the attendant responsibilities)
we have put the right talent in the right places, simplified our
organizational structure and positioned ourselves for greater
growth in the future.”
_________________
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