LeMond Fitness Names Mark Handfelt as President, CEO & Director

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LeMond Fitness Names Mark Handfelt President, CEO and Director. Company Also Announces Senior Promotion and Board Appointment

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LeMond Fitness Inc., a company focused on the design, development and distribution of premium group and indoor exercise bikes, bike trainers and data capture devices, today announced the appointment of Mark Handfelt as President, CEO and Director of the company. LeMond Fitness also announced the promotion of Bernie Boglioli to Senior Vice President, Business Development, while also naming Tim Kilgallon, President of the Allere Wellbeing Division of Alere, Inc. as its latest appointment to the company's Board of Directors.

Handfelt most recently was a member of Wilson Sonsini Goodrich & Rosati, PC, where he served for nearly a decade as outside counsel to a large number of high-growth public and private enterprises. In that capacity, he worked with the founders of LeMond Fitness, including Greg LeMond and Mr. Boglioli, to incorporate, finance and launch the company in 2002. He has been their outside counsel ever since.

“I’m very enthusiastic that Mark accepted our offer to join our team full time as our new President and CEO. I’ve had the opportunity to work closely with him on company and other matters for more than eight years and I’m confident from that experience, and from what I know he has accomplished with his other clients, that he will be able to lead and manage our company through and beyond our next exciting stage of growth,” said Greg LeMond, three-time winner of the Tour de France and two-time World Champion bicyclist.

“LeMond Fitness has a great team delivering great products. All of the team members have contributed to building LeMond Fitness into a premier brand in the fitness industry and I’ve enjoyed participating in that process in my role as outside counsel. When Greg approached me with the idea of joining as CEO, I jumped at the opportunity. I’m looking forward to working with him and the rest of the LeMond team. The company has a tremendous product line-up and brand that we will be able to expand and improve to better serve our customers and potential customers” said Handfelt.

The company also promoted Bernie Boglioli to Senior Vice President, Business Development. "Bernie is a recognized leader in the fitness industry and has been instrumental in the development of our products and the growth of our company," LeMond said. "This is an exciting time for the fitness industry. The ability for the consumer to more easily integrate mobile and computing technologies into daily life, and the ability of our products and services to assist them with that integration by providing information and data that is functional, simple and relevant, will undoubtedly change the way people train, exercise and live. Bernie’s experience and relationships within the industry will permit the company to capitalize on those changes so that we can continue to provide our customers with market leading products and services of the highest quality.”

LeMond also said that the LeMond Fitness Board of Directors will have a new member -- Tim Kilgallon, who has served as President and CEO of Free & Clear, Inc., a national leader in behavior change services, since 2004. Free & Clear was acquired by Inverness Medical Innovations, Inc. in 2010 and Mr. Kilgallon remains today as the President of the Alere Wellbeing Division (formerly Free & Clear) of Alere, Inc. (formerly Inverness Medical).

“I’ve known Tim since 2004 and I’m excited to have him as a colleague on the Board," said Chad Waite, a member of the Board and a general partner in OVP Venture Partners, an investor in LeMond Fitness. "His knowledge of and enthusiasm for the health and fitness industry and his experiences as a successful entrepreneur and executive will be invaluable to the company.

“I’ve also worked closely with Mark in a wide variety of capacities for more than 14 years and have always been impressed by his talent to deliver a unique combination of savvy legal and business advice," Waite said. "He introduced me to the company when it was founded in 2002 and we at OVP look forward to continuing our association with the company and Mark in his new role there.”

LeMond Fitness, Inc. (http://www.lemondfitness.com) established in 2002, was founded to help individuals achieve their fitness and performance goals and train more effectively. As the first American to win the Tour de France, Greg LeMond transformed the world of cycling with his dedication, enthusiasm and innovation. The LeMond Fitness team incorporates Greg’s dedication, enthusiasm and passion for innovation in the design, quality and durability of the LeMond Fitness products that have become the gold standard for group and indoor cycles, bicycle trainers and data capture devices.

Contact: Matt Hill
LeMond Fitness, Inc.
PHONE: 425-482-6773
EMAIL: Mhill(at)lemondfitness(dot)com

LEMOND FITNESS, INC.
15540 Woodinville-Redmond Road NE
Bldg A, Suite 100
Woodinville, Wash 98072    
http://www.lemondfitness.com

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Matt Hill
LeMond Fitness Inc
425-482-6773 ext. 122
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