TEMPE, AZ (BRAIN)—Mike Gaumond has replaced Pat Hus as CEO of Titus Cycles. Gaumond brings over 20 years of senior management experience to Titus including prior CEO, general management, product management and business development roles in companies ranging from startups to the Fortune 500.
Former CEO Pat Hus has left the company to explore new opportunities. “Pat is a very talented and experienced manager and has spent the last five years helping Titus grow to its current level,” said Jeff Titone, marketing director at Titus.
Hus, an industry veteran who previously held sales and marketing positions at American Bicycle Group and Cannondale, said he is looking forward to his next challenge and is confident it will be back in the bike business.
“It’s been a great run for me at Titus. I enjoyed every minute of it and I am extremely proud of what we accomplished,” said Hus. “Titus is a great brand and is poised to do a lot more. Hopefully the market will come back enough to allow it to realize its potential. I will miss my team and our customers more than anything and I wish them the success they so rightfully deserve.”
Gaumond originally joined Titus three months ago as its president to help manage capital and resources and allow Hus to focus more on sales. His passion for cycling coupled with his substantial general management experience makes this role his dream job.
“Titus has been a premier brand in mountain bikes for two decades and 2010 will be a great year for us. The initial reaction to our new products has been fantastic and we have a phenomenal team in place. I’m pumped to help take Titus to the next level,” said Gaumond, a 25-year cycling enthusiast who can frequently be found riding Sunrise and Double Bypass trails in the McDowell Mountains.
Titone said everything remains business as usual. Titus continues to be wholly owned and operated by GAI Cycles, which acquired it in early 2008.
Despite softness at the high-end, Titone said the company has raised forecasts based on the strength of last year’s sales. Titone said Titus closed last year up 10 percent, climbing back from a challenging year in 2008 when sales declined 30 percent.
“We have been able to claw back out somewhat,” Titone said. “Based on the strength of that we will be able to carry that momentum into 2010.”
