Michael Horvath is out as Strava’s CEO. Who’s next is an open question.
The San Franciscan announced the news in a letter dated Feb. 6.
“What got us here will not be exactly the same as what will get us there. I have decided that Strava needs a CEO with the experience and skills to help us make the most of this next chapter. The search for Strava’s next CEO is underway,” Horvath wrote.
It’s the second time Horvath has resigned from his role in Strava’s history. The first time he stepped down was in 2013, when he relinquished his role to help his wife as she battled cancer. He came back in 2019.
Horvath also commented on Strava’s recent meteoric success. Last May, the company shared that more than 100 million athletes had signed up on its platform. Most of that growth occurred during the depths of the pandemic; Strava memberships doubled from 2020 to 2022.
In late January, Strava announced that it acquired Fatmap. The global mapping platform had raised millions in venture capital as it sought to position itself as an outdoor analog of Google Maps.
But with all its growth, Strava has also encountered headwinds. Also in late January, it increased its prices in a move that confused and disenfranchised many users. Just before that, it laid off 15% of its employees.
Whoever will lead the platform next is unknown. Horvath will likely retain his role until Strava finds his replacement. In the letter, he stated that the company is “commencing” the hunt for his successor.
Horvath referenced the company’s direction and “destination” multiple times in the resignation letter, but did not further qualify either one. He also focused on the company’s investments in its platform’s recent growth.
“I have great confidence that these investments will put Strava and our subscription at the center of connected fitness for many, many more people over the coming decade and beyond,” Horvath wrote. “[A]s co-founder and CEO, it’s only part of my job to ensure we are picking the right path to that destination.”
Perhaps confusingly, he concluded by stating that he remains “as committed to Strava’s future as ever.”