CHICAGO (BRAIN) — SRAM co-founder and longtime CEO Stan Day is transitioning to a new role as chairman of the company's board of directors as Ken Lousberg takes over as CEO. The change, announced to SRAM staff this fall, became effective Tuesday, Jan. 1.
Lousberg has been COO of SRAM for the past 18 months.
An interview with Day and Lousberg about the transition will appear in the February issue of Bicycle Retailer & Industry News.
Day has spent more than 31 years leading SRAM.
In a statement, Day said, "It's been a thrilling ride. When we started we wanted to create and manufacture components that inspired cyclists. We began by making road Grip Shift that didn't sell very well, and then a mountain bike Grip Shift that took the market by storm — from six people in a dusty factory to over 3,000 global team members offering leading drivetrain, brake and suspension systems. I am super pleased that Ken has joined the company. It is clear to me that he has the skill sets and experience base to help lead us to the next level. SRAM will continue to be a private company owned by the Day family and the management team. It will continue to focus its innovation and business within the bike industry."
Lousberg graduated from Colorado State University with a degree in mechanical engineering and received his MBA from the University of Colorado. He has served in numerous senior executive roles. Before joining SRAM Lousberg served as president of Terex Cranes and Utilities, with more $2 billion in revenue and more than 5,000 employees.
"Stepping into the role of CEO is exciting. I feel honored to be asked to lead such a great team, in such a great industry," Lousberg said. "Stan and the leadership team have provided a great platform to continue SRAM's arc of growth and we will continue to focus on our customers' needs, leading product innovation and maintaining our commitment to our global team and partners."
