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Juwon Kim has been appointed as the new CEO of Scott Sports, replacing Beat Zaugg. This change comes after the board of directors decided to elevate Scott’s position as a leading manufacturer in the bicycle and outdoor sport industries. Kim, who previously served on the board, will now lead the company with guidance from Steve Meineke and Mathias Seidler.
With 17 years of experience in investment banking and a background in growth strategy and mergers and acquisitions at Scott Sports’ majority shareholder, Youngone Corp, Kim is well-equipped to guide the company towards success. In fact, Youngone Corp recently provided a significant loan of 150 million Swiss francs ($166 million) to Scott Sports, with a portion due in 2025. Despite the leadership change, Scott Sports emphasizes Youngone Corp’s continued commitment to the company and its products. Kihak Sung, chairman of Youngone and a member of Scott’s board, reaffirmed their support by expressing confidence in Scott’s potential for growth and market expansion. The company is optimistic about overcoming industry challenges and succeeding under Juwon Kim’s leadership.
