One of Canyon's founders and its CEO for the past 35 years, Roman Arnold, has stepped away from his role to join the newly formed Canyon Advisory Board as chairman.
Canyon began life as Radsport Arnold in 1985, it was formed by Roman and his brother Frank as a bike parts supplier. In 1996, the Canyon name emerged and the brand embraced a direct sales model, becoming one of the first in cycling to cut out bike shops and sell directly to customers.
Roman has been at the head of the brand since then but will now be stepping aside to support management and help set the company's strategic course. He said, "I am still with Canyon with all my heart and soul, but in a new position in the future. I have been riding the big chainring for over 30 years. I am now shifting down a gear, but I am doing well on the long distance." He will be replaced on October 1 by Armin Landgraf, the current COO and former CEO of Pon Group, the parent company of Focus, Santa Cruz and more.
Landgraf said, "We will continue to focus on the development of new technologies and products, a continuous expansion of our e-bike portfolio, the expansion of our service offering and the strengthening of our global brand presence."
Canyon also announced its sales have increased by 30% up to €400 million ($474 million) in its fiscal year. It also announced that it is looking for a new investor after working with TSG Consumer Partners LLC for the past five years. Its sales have grown by €150 million in that time thanks in part to its entry into the American market. Arnold said, "We have reached a scale at which we need additional investors for our growth and innovation plans."