Tom Tolworthy is one of the strongest executives we could add to the Performance team
Chapel Hill, NC (Vocus) October 11, 2010
Performance Bicycle announced today the appointment of retail veteran Tom Tolworthy as President and Chief Operating Officer.
Tolworthy joins the nation’s largest specialty bike retailer, including more than 90 stores nationwide, its catalog and website. Tolworthy comes to Performance at a time when the retailer is growing its nationwide footprint and the Performance brand as a trusted destination for mainstream and avid cyclists alike.
Over a three decade career in retail management, Tolworthy has led the growth and expansion of some of the best known retail brands in the country. The former CEO of The Vitamin Shoppe and President of Barnes and Noble helped those brands reach milestone achievements in the form of revenue growth, successful store innovations and development of managerial talent. Among his accomplishments are helping Barnes & Noble become the second largest operator of coffee cafes in the U.S. as well as introducing a new store concept to more than 400 retail locations of The Vitamin Shoppe.
“Tom Tolworthy is one of the strongest executives we could add to the Performance team,” said Jim Thompson, CEO of Performance Inc. “This is a very exciting time for the company, as we tap into the rising popularity of cycling across the nation. Our mission is to demystify cycling and make it more accessible to more people. As Performance continues to grow and strengthen its presence through direct and retail channels, Tom’s experience and leadership will ensure that we execute against our plan. I am very excited to work with him.”
Tolworthy comes to Performance after holding COO and CEO positions with The Vitamin Shoppe, where he helped transition ownership of the company and drove revenue growth to more than $700 million. Prior to The Vitamin Shoppe, Tolworthy served in a variety of executive positions with Barnes & Noble, including president of the company from 1995 to 2001. During his tenure, B&N opened more than 400 superstores and successfully entered into music and DVD sales. Tolworthy has also held managerial positions with B Dalton Booksellers and Duckwall-ALCO Stores.
“Performance has put forth a bold brand vision and an excellent foundation for future growth,” said Tolworthy. “It’s an exciting company to be a part of, and the time is right for this market. I believe that the company has the right mix of elements to create a name that is synonymous with cycling retail.”
Tolworthy attended the University of Massachusetts. He is married and has two children and five grandchildren.
About Performance Bicycle
Performance Bicycle is the number one bike specialty retailer in the U.S. and is a wholly owned subsidiary of Performance Inc. Performance provides a multi-channel cycling retail experience that spans catalogs, a website at http://www.performancebike.com and more than 90 nationwide stores that cater to both the avid biking enthusiast and the recreational rider. Performance Inc. is majority owned by North Castle Partners of Greenwich, Connecticut. For more information about Performance Bicycle, please visit http://www.performancebike.com.