After nearly three decades, SRAM’s first CFO will finally step down. His replacement will fully take over later this year.
SRAM CFO Mike Herr has decided to retire from the bike company after 28 years, according to a press release posted by Bicycle Retailer.
Also according to the press release, the company chose Heather Bridges as the new CFO. Bridges takes over later this year after a transitional period.
As for Herr, he led SRAM’s finance and IT departments for nearly 24 years. He helped SRAM grow from a single-product startup to a billion-dollar company. It’s now one of the largest suppliers in the cycling industry, the release said.
Herr aided the company through 12 acquisitions, including RockShox, Zipp, TIME, Hammerhead, and Velocio. He also managed SRAM’s relationships with the financial community and investors.
“I am sad to leave, of course, but happy to look ahead to more time for family, hobbies, adventures, and bike riding. I will undoubtedly stay closely connected to my SRAM family,” Herr said in the release.
SRAM CEO Ken Lousberg called Herr a “consummate CFO” and a “great thinking partner.”
Just last year, Herr received an award for his leadership at SRAM.
Congratulations to Michael R. Herr of SRAM, LLC for receiving the Large Private Company CFO of the Year Award last night! Thank you to all who attended and tuned into the award ceremony! #ChicagoCFO #CFOoftheYear pic.twitter.com/tY1isZ40O5
— FEI Chicago (@FEIChicago) November 19, 2021
Making Way for Heather Bridges
Heather Bridges joins SRAM as CFO and will lead SRAM’s global finance and information technology functions, reporting to CEO Ken Lousberg.
To join SRAM, Bridges leaves her current job as executive vice president and chief financial officer at HALO Branded Solutions.
She spent 19 years with SC Johnson, serving as CFO of the Professional Division and leading finance for the North American region. Bridges began her career in finance with Proctor & Gamble.
“I am delighted to join SRAM as CFO,” Bridges said in the release. “I have been deeply impressed with SRAM’s mission, the quality and passion of our people, and the impact we have on the industry. Stan, FK, Ken, Mike, and countless others have built an extraordinary organization. I am honored to contribute to the next chapter of SRAM’s success for our customers, teammates, and the communities we serve.”
Lousberg said Bridges brings “immense experience” to her role as CFO.
“We are excited to have her working alongside our dynamic leadership team,” Lousberg said.