Cervelo SA

Cervelo SA

April 23, 2008 12:01 ET

Michael Marx Appointed COO of Cervelo SA

NEUCHATEL, SWITZERLAND--(Marketwire - April 23, 2008) - Cervelo SA is pleased to announce the appointment of Michael Marx as Chief Operating Officer (COO) of the Company. A former World Team Pursuit champion, he shares with Cervelo an uncompromising pursuit of excellence.

Michael's varied work experience over the past 27 years uniquely equips him to head-up Cervelo's growing organization. His experience in the bike industry ranges from retail, as a bike shop owner, to sales representative, to almost a decade as the Managing Director of Continental Tyres, two-wheel division. At Prym Fashion (apparel industry) he was the Managing Director for subsidiaries in Germany, Romania and Turkey where he was responsible for the setup and establishment of these divisions. Michael also worked for BMW in sales management providing marketing and business consultation to car dealers. Prior to joining Cervelo he ran his own management consultancy and training company, Balanced Performance. With his diverse background in management, sales and marketing he will provide strong leadership as Cervelo continues to increase its market share in global cycling. Michael's presence also provides the founders with the autonomy they desire to concentrate their focus on what they do best - engineering, product design and strategic issues.

"In Michael we have an individual who not only understands the opportunities and limitations of the bike industry, the players - dealers, vendors and consumers - but also has the abilities to implement the processes and procedures that will take Cervelo to the next level," said Gerard Vroomen, Cervelo co-founder. "We have wanted to step out of the day-to-day operations for a while, to pursue what we do best and Michael is the right person to take over these tasks. In the role of COO, he will coordinate the activities of Cervelo worldwide."

"It is not every day that you get the chance to join the best bike company in the world," said Michael Marx. "Cervelo continues to experience growth at a remarkable pace. I am enthusiastic and up to the challenge of helping them reach their full potential."

ABOUT CERVELO

Phil White and Gerard Vroomen founded Cervelo in 1995 when their design for a new time trial bicycle, built at the request of a professional cyclist, failed to garner interest from traditional cycle manufacturers. Today,
Cervelo is the largest time-trial bike manufacturer in the world. The company is recognized internationally as one of the most innovative and fastest growing bike manufacturers the sport has seen in years. This has culminated in Cervelo being the #1 brand that readers of VeloNews, CycleSport, InsideTriathlon and Slowtwitch (all publications for serious cyclists and triathletes) intend to purchase in 2008.

For 2008, Cervelo currently produces ten different models. Its products are available internationally. Please visit www.cervelo.com for further information.

PHOTO: A photo of Michael Marx is available for download at www.cervelo.com/media, under "Images-General".

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