New CEO leading Rad Power Bikes in the midst of e-bike seller’s bankruptcy proceedings
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Rad Power Bikes has appointed Angelina “Angy” Smith as its new CEO amid Chapter 11 bankruptcy proceedings. Smith, previously the CFO, is the fourth CEO in three years, replacing Kathi Lentzsch. The company, which filed for bankruptcy earlier this month, reported liabilities of nearly $73 million against assets of $32 million, and a significant drop in revenue from $129.8 million in 2023 to $63.3 million this year. Rad aims to continue operations while seeking a sale to preserve the brand.
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