AMSTERDAM (BRAIN) — Peter Woods has stepped down as president and CEO of Dorel Sports, which last month was officially acquired by Pon Holdings.
According to a Pon Holdings' release, the decision was mutually agreed on. Woods will continue working for Pon.Bike as a special advisor until the end of the year.
Woods joined Dorel Sports in March 2012 as chief financial officer and became president and CEO two years later. As a special advisor, he will continue to support the integration within Pon.Bike, according to the release.
Dorel Industries completed its sale of Dorel Sports to Pon Holdings for $810 million in January. The planned acquisition was announced in October. Dorel Sports' lineup includes Cannondale, Schwinn, GT, Mongoose, and other bike brands.
