Change of gear for smart bike specialist as new leader takes hot seat

Wattbike has put a new CEO in the saddle after incumbent boss Richard Baker decided to step down.

Stephen Loftus, most recently chief commercial officer at folding bike manufacturer Brompton, will officially take over the reins at the smart bike business on 1 May. Baker, who spent ten years in charge of Nottingham-based Wattbike, will stay with the company in an advisory capacity.

Baker joined Wattbike in 2011 and has been instrumental in its growth and success. He was at the heart of the successful launch of the Wattbike Atom and steered the company through the pandemic after becoming CEO in 2018.

Loftus helped Brompton quadruple in size to become an international omnichannel brand. He previously held sales, marketing and innovation roles for international drinks companies including Diageo, Red Bull and Constellation.

His appointment follows the arrival of chairman Greg Nieuwenhuys, who joined Wattbike last month.

Richard Baker said: “After 10 fantastic years, it is time for me to step back and allow a fresh management team to continue Wattbike’s successful story. I am immensely proud of what we have achieved – the team, products and brand we have built. I’m excited for the team going forward under Stephen’s leadership and to support in my new role as a Special Advisor. With Stephen’s background, experience and approach, I am confident he will take Wattbike to new heights.”

Loftus said: “I am passionate about working for businesses that improve fitness and wellbeing and helping them fulfill their international potential. Wattbike is a unique product that started with Olympic and professional athletes as an innovative data-driven training tool to significantly improve their performance, and now serves a much broader customer base.

“I look forward to helping the talented team let more people worldwide discover how a Wattbike can change their life for the better, delight customers with continuous innovation and fulfill the potential of the business. I am grateful for Rich’s support as I step into this exciting new role.”

Nieuwenhuys added: “I am grateful for everything Richard has done for Wattbike and that he will continue to be involved in the journey ahead. With Stephen we have found a strong leader with a great track record, especially in sales and marketing, and I am excited about working with him, the team and our investors Piper to deliver this next chapter of growth for the brand.”