Rapha chief executive William Kim is stepping down from his position as chief executive for personal reasons, with the North London-based upmarket cycling clothing brand appointing two joint managing directors to run the business.
Kim – who previously worked at the London-based retailer All Saints and at luxury goods firms Burberry and Gucci – joined Rapha at the end of last year, succeeding Simon Mottram, who founded the company in 2004, as chief executive.
The company says that he will move back to his native Korea with his family, and has appointed long-standing employees Francois Convercey and Daniel Blumire as joint Managing Directors with immediate effect.
In a memorandum sent to Rapha staff on Monday, Kim said: “As you can imagine, this has been a very difficult decision for me to make.
“Over the last year, I’ve grown to love the Rapha brand. Rapha is an amazing business, made of great people and a unique culture, a tight-knit community.
“You are each contributing to building a very special brand here at Rapha. It has been a privilege to experience how magical cycling is and I know you will continue to thrive and lead the industry.”
In a joint statement released via Rapha, Convercey, formerly chief brand and marketing officer, and Blumire, who was chief commercial and product officer, said: “We are both equally passionate about the Rapha brand, our company culture and values.
“Rapha created a market and a benchmark for performance and style-forward cycling clothing, and is well positioned to continue to expand and inspire the world to live life by bike.”
Mottram, who sold a majority stake in the business in 2017 to an investment firm owned by Tom and Steuart Walton, grandsons of Wal-Mart founder Sam Walton, retains a shareholding in the business and will continue to sit on its board.
Simon joined road.cc as news editor in 2009 and is now the site’s community editor, acting as a link between the team producing the content and our readers. A law and languages graduate, published translator and former retail analyst, he has reported on issues as diverse as cycling-related court cases, anti-doping investigations, the latest developments in the bike industry and the sport’s biggest races. Now back in London full-time after 15 years living in Oxford and Cambridge, he loves cycling along the Thames but misses having his former riding buddy, Elodie the miniature schnauzer, in the basket in front of him.