The new MD of Specialized Australia Pty is Tony Smith, replacing Canadian Sam Monardo, who was MD for six years. Ten other staff have also been laid-off from the Melbourne-based HQ of the American brand. Monardo was formerly GM for Cervélo worldwide.
Mike Sinyard, founder and CEO of Specialized, told BikeBiz:
"We made some difficult decisions, and let some talented people go. This was not easy.
"We have promoted Tony Smith to take the lead. He has been with the brand since its inception down under."
Sinyard added: "Australia is one of the markets that’s near and dear to us. This year is one of the highest revenue we’ve ever had in the market. We will continue to invest in marketing, and in the supply chain."