Cycling and bikes website Wiggle has hired a new chief executive as Humphrey Cobbold prepares to leave.
Stefan Barden previously worked at food service company Brake Bros, owned by private equity firm Bain Capital, and was chief executive of stock market-listed Northern Foods for five years previously. He worked at Brakes for 12 months until January last year.
Wiggle said, following discussions over the summer with Cobbold, 'the time is now right for a transition to new leadership.'
Cobbold has worked at Wiggle for four years increasing sales more than fourfold to £140 million. During that time it considered a stock market listing.
Cobbold said: 'I have had the privilege to work with a truly fabulous group of colleagues and business partners over the last four years. The time is now right for someone else to lead the peloton and take Wiggle forward to future success.'
Wiggle chairman Andy Bond said: 'We’re very pleased to welcome a new leader of the company whose experience includes many senior roles in industries with a strong customer service ethic.
'Stefan’s international experience and leadership of large-scale businesses will be especially relevant during this next phase of our geographic expansion as the business invests in the build-out of its operations as well as in its infrastructure and customer experience.'
In July, Wiggle revealed a 20.8 per cent sales rise to £140.8m for the year to February.
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