Online UK bike retailer Wiggle announced that Stefan Barden will succeed Humphrey Cobbold as chief executive of the company.
Barden, who was most recently CEO of food distribution company Brakes Bros, is a former CEO of Northern Foods and H.J. Heinz Company in the UK and Ireland. He started his career at Unilever and was also a consultant at Mckinsey. A triathlon enthusiast and Ironman competitor, he joined Wiggle in September.
Humphrey Cobbold and Wiggle's board agreed on the transition to new leadership after discussions over the summer. Cobbold, who joined Wiggle in September 2009, has presided over a period of rapid sales growth from 33 million British pounds ($51.3 million) to more than 140 million British pounds ($217.9 million).
"I have had the privilege to work with a truly fabulous group of colleagues and business partners over the last four years," Cobbold said in a statement. "The time is now right for someone else to lead the peloton and take Wiggle forward to future success."?
Wiggle chairman, Andy Bond, said: "We're very pleased to welcome a new leader whose experience includes many senior roles in industries with a strong customer service ethic. Stefan's international experience and leadership of large-scale businesses will be especially relevant during this next phase of our geographic expansion as the business invests in the buildout of its operations as well as in its infrastructure and customer experience.
"The Board joins me in thanking Humphrey for four years of great leadership and wishes him every success with his future plans," Bond added.
Wiggle recently reported a 20.8 percent increase in revenue to 140.8 million British pounds ($219.1 million) for the year ended February 3, 2013. EBITDA was 14 million British pounds ($21.7 million).
The online retailer, founded in 1999, sells in more than 88 countries and has launched websites in nine languages. Private equity firm Bridgepoint invested in the company in December 2011.
