Morgan Hill, California, US
Specialized founder Mike Sinyard is stepping aside as CEO, 48 years after starting the company.
Mike announced this month he has appointed former Dyson executive Scott Maguire to replace him as CEO.
Mike, now aged 72, will continue as Specialized’s chairman and will focus his energies as the company’s chief rider advocate.
“Mike remains fully engaged as the brand’s visionary leader,” according to a statement from Specialized.
“The dream has always been to create ‘Specialized Forever’, which means ensuring that Specialized goes on indefinitely, longer than any individual, including Mike himself.
“Scott will own the responsibility of running the business and will report to Mike.
“Specialized will remain an independent, passion-driven company with the freedom to invest.”
Search for the Ideal Leader
Mike said he had been looking for the ideal leader for Specialized for years.
“Scott is perfect because he integrates design thinking, engineering capability, supply chain expertise, and operational excellence to drive meaningful innovation to customers and employee,” he explained.
“On top of that, Scott brings together and leverages the strengths of diverse people and cultures to create simplicity out of complexity.”
Scott has been with household appliance manufacturer Dyson for 18 years, in various leadership positions including senior vice-president of engineering & operations.
He has risen to chief operating officer, a post he has held for the past two years with the Singapore-based company.
Scott holds a Master’s Degree in Product Design Engineering from the University of Glasgow and Glasgow School of Art.
“Mike and I clicked from the go,” he says.
“We both came from hardworking families which gave each of us the belief that with hard work, ingenuity and collaboration, dreams become reality.
“I am extremely excited about the opportunity to lead this revered brand into the future.
“The Specialized innovation engine, product and distribution is unmatched.”
Mike said he now has more energy than ever, which he will invest in the chief rider advocate role.
“With Scott coming on board to run the business, I can focus on better serving riders, providing them with products, services, and experiences they’ve never dreamed of,” he added.
“Specialized is what it is today because of our people, our riders and our retailers.
“Learning is part of who we are. That’s always been part of the Specialized way.”
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