When we get press releases like these we sometimes wonder how this will affect the brand and company. Reading into this, sounds like Mike Sinyard is still at the pointy end of the company and is not giving up control, just a title. This transition is inevitable, but after so many years cultivating a brand, business and the cycling community, we know Sinyard will always be an influencing factor.
This also reminds us of Elon Musk.
Founder Mike Sinyard Promotes Himself to Chief Rider Advocate Morgan Hill, Calif., March 16, 2022
Forty-eight years after starting Specialized, founder Mike Sinyard announced the appointment of Scott Maguire as CEO. As Founder, Chairman, and Chief Rider Advocate, Mike remains fully engaged as the brand’s visionary leader. The dream has always been to create Specialized Forever, which means ensuring that Specialized goes on indefinitely, longer than any individual, including Mike himself. Scott will own the responsibility of running the business and will report to Mike. Specialized will remain an independent, passion-driven company with the freedom to invest.
Scott joins the company from Dyson where he spent eighteen years in various leadership positions. This includes SVP Engineering & Operations, and culminating in his role Chief Operating Officer, a post he has held for the past two years. Scott holds a master’s degree in Product Design Engineering from the University of Glasgow and Glasgow School of Art.
“Mike and I clicked from the go. We both came from hardworking families which gave each of us the belief that with hard work, ingenuity, and collaboration dreams become reality,” said Scott. “I am extremely excited about the opportunity to lead this revered brand into the future. There’s never been a team this strong in the bicycle industry and the Specialized innovation engine, product, and distribution is unmatched. We have everything we need to deliver products, experiences, and services that matter to riders around the world and affect positive global change.”
“I have more energy now than ever,” said Mike. “With Scott coming on board to run the business, I can focus on better serving riders, providing them with products, services, and experiences they’ve never dreamed of.”
“Specialized is what it is today because of our people, our riders, and our retailers.” said Mike. “Learning is part of who we are. That’s always been part of the Specialized way. I have been looking for the ideal leader for Specialized for years; Scott is perfect because he integrates design thinking, engineering capability, supply chain expertise, and operational excellence to drive meaningful innovation to customers and employees. On top of that, Scott brings together and leverages the strengths of diverse people and cultures to create simplicity out of complexity.”