After practically three a long time, SRAM’s first CFO will lastly step down. His alternative will absolutely take over later this 12 months.
SRAM CFO Mike Herr has determined to retire from the bike firm after 28 years, in keeping with a press launch posted by Bicycle Retailer.
Additionally in keeping with the press launch, the corporate selected Heather Bridges as the brand new CFO. Bridges takes over later this 12 months after a transitional interval.
As for Herr, he led SRAM’s finance and IT departments for practically 24 years. He helped SRAM develop from a single-product startup to a billion-dollar firm. It’s now one of many largest suppliers within the biking business, the discharge mentioned.
Herr aided the corporate by way of 12 acquisitions, together with RockShox, Zipp, TIME, Hammerhead, and Velocio. He additionally managed SRAM’s relationships with the monetary group and traders.
“I’m unhappy to depart, in fact, however blissful to look forward to extra time for household, hobbies, adventures, and bike driving. I’ll undoubtedly keep intently linked to my SRAM household,” Herr mentioned within the launch.
SRAM CEO Ken Lousberg referred to as Herr a “consummate CFO” and a “nice pondering accomplice.”
Simply final 12 months, Herr acquired an award for his management at SRAM.
Congratulations to Michael R. Herr of SRAM, LLC for receiving the Massive Non-public Firm CFO of the Yr Award final night time! Thanks to all who attended and tuned into the award ceremony! #ChicagoCFO #CFOoftheYear pic.twitter.com/tY1isZ40O5
— FEI Chicago (@FEIChicago) November 19, 2021
Making Approach for Heather Bridges
Heather Bridges joins SRAM as CFO and can lead SRAM’s world finance and data expertise capabilities, reporting to CEO Ken Lousberg.
To affix SRAM, Bridges leaves her present job as govt vice chairman and chief monetary officer at HALO Branded Options.
She spent 19 years with SC Johnson, serving as CFO of the Skilled Division and main finance for the North American area. Bridges started her profession in finance with Proctor & Gamble.
“I’m delighted to hitch SRAM as CFO,” Bridges mentioned within the launch. “I’ve been deeply impressed with SRAM’s mission, the standard and fervour of our individuals, and the influence now we have on the business. Stan, FK, Ken, Mike, and numerous others have constructed a rare group. I’m honored to contribute to the subsequent chapter of SRAM’s success for our prospects, teammates, and the communities we serve.”
Lousberg mentioned Bridges brings “immense expertise” to her position as CFO.
“We’re excited to have her working alongside our dynamic management crew,” Lousberg mentioned.
