Rad Power Bikes CEO Mike Radenbaugh Steps Down, Phil Molyneux Named Successor Amid Company Challenges

Rad Power Bikes CEO Mike Radenbaugh is stepping down and will be replaced by Phil Molyneux, former Sony Electronics president, while Radenbaugh stays on as chairman. The company, valued at $1.65 billion in 2021 and having raised $304 million last year, has faced layoffs, lawsuits, and a large product recall recently.