After 48 years at the helm of Specialized, founder Mike Sinyard has appointed former Dyson executive Scott Maguire as the new CEO.
As Founder, Chairman and Chief Rider Advocate, Sinyard will remain the brand's 'visionary leader' but the responsibility of running the business will now fall on Maguire.
Specialized Bicycle Components, known and stylized simply as Specialized, was founded by Sinyard in 1974 as a 'by riders for riders' company. Based in Northern California with locations around the world, the private company is known for its "Innovate or Die" approach with a goal of making the most functional and technically advanced bikes on the market. Today they're among the top five biggest bicycle companies in the world, and certainly a consistent presence on the WorldTour and at local club rides alike.
Sinyard always dreamed of creating "Specialized Forever," which is the idea that the bicycle brand and business will go on indefinitely, and certainly longer than any individual, including Sinyard himself.
In stepping back, Sinyard hopes to "focus on better serving riders, providing them with products, services, and experiences they’ve never dreamed of.”
"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," Sinyard said in a statement.
"On top of that, Scott brings together and leverages the strengths of diverse people and cultures to create simplicity out of complexity.”
Maguire holds a master's degree in Product Design Engineering from the University of Glasgow, and comes to Specialized from the household appliances brand, Dyson, where he spent 18 years in various leadership roles, culminating in the role of chief operating officer.
“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 Maguire.
“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.”
Despite this change at the helm, Specialized was quick to state that it will remain an independent, passion-driven company with the freedom to invest.
