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BMC Group in Grenchen undergoing reorganization with new management

12. December 2013

Grenchen, 12.12.2013

The bike manufacturer BMC Group (BMC, Bergamont and Stromer) in Grenchen is reorganizing its group of companies. With the reorganization, Erwin J. Steinmann is in charge and will become the new operational head of the BMC Group as of the beginning of 2014. Steinmann will be supported by the industry professional Damian Wirth who is joining the Board of Directors of the BMC Group as a new member. The previous CEO and co-owner Thomas Binggeli is leaving the operational management and is taking over the chairmanship of the Board of Directors from majority shareholder Andy Rihs.

International bicycle manufacturer BMC Group with the brands BMC, Bergamont and Stromer is undergoing comprehensive reorganization. As of the beginning of 2014, the new CEO of the BMC Group will be Erwin J. Steinmann. The man from Central Switzerland has been a specialist for transformational processes and increasing efficiency for 25 years and is tasked with promptly implementing the reorganizational measures developed by the Board of Directors and management in cooperation with the consulting firm Helbling Business Advisors AG.

Previous CEO becomes the Chairman of the Board of the BMC Group; Damian Wirth joins the Board of Directors
The previous Managing Director Thomas Binggeli takes over the chairmanship of the Board of Directors of the BMC Group Holding AG from the investor Andy Rihs and exits the operational management. Majority shareholder Rihs remains in the Board of Directors of the BMC Group and will supervise the reorganization process. Damian Wirth is joining the Board of Directors as a new member. The man from Eastern Switzerland is the CEO of the bike and sporting goods distributor Chris Sports Systems in Münchwilen and obtained well-grounded industry knowledge, among other things, in his time as CEO of the Villiger bicycle division.

Cost savings and intensified focus on the premium sport markets
Operational process improvements and a comprehensive program for lowering costs are at the center of the decided reorganization. At the same time, the selling power of both the BMC and the Stromer brands will be further intensified by focusing on premium markets and products. "Despite the positive operational growth of the BMC and Stromer brands," says Thomas Binggeli, "it is necessary to organize the group to be even more lean, efficient and competitive in future". The exact procedure will be defined and implemented over the course of the year 2014.

Bicycle manufacturer Bergamont continues with successful strategy
The reorganization exclusively affects the two brands of BMC and Stromer. The independently operating brand Bergamont from Hamburg is not affected by this. BMC majority shareholder Andy Rihs: "The successful strategy of Bergamont will be pursued further with no changes. The brand is an important player in the broad bicycle segment in Germany, but also continuously increases its market shares in Switzerland and other international markets.

Key figures of the BMC Group
• Consolidated sales CHF 140 million
• Number of employees worldwide 250
• Represented in over 30 countries

Andy Rihs, majority shareholder of the BMC Group
Thomas Binggeli, Chairman of the Board of the BMC Group
Phone: +41 32 654 14 67