Scott Dickey, CEO and Steve Gintowt, CFO and COO of Competitor group have left CGI, and Chairman Paul Walsh and George Gresham will be the iterim CEO and COO, respectively at Competitor Group.

CGI is the largest producer of major endurance events in the world. They have come under intense scrutiny over the past several months after they abruptly cut an elite athlete sponsorship program with several of their events, which made elite manager Matt Turnbull, a well known and well respected program develop with a job that could only be called “redundant”. CGI noted then that this was a business decision.

In speaking with sources, some from within CGI, some from without, this writer was taken to some task for not appreciating that “this was just a business decision.” That “business decision”, was just that, but the business is running. While the million dollars taken from the events at the time, was a mere drop in the bucket, RunBlogRun still believes that it was perhaps the opening salvo on business issues that were quickly developing at CGI, which the board pressured the former CEO and CFO to correct.

The truth is, running is all grown up. Events in Great Britain, for example, NOVA international, who produce BUPA, are able to combine huge numbers of citizen runners, fine elite fields and even art programs, in profitable ventures. But, running is quite different in the U.S. CGI has developed 83 events, with several having been cut for 2014, due to the fact that they no longer fit into the business plans of CGI.

The business of running is complicated. Many major events support US training programs, elite track events, and local running concerns that make little or no business sense, but are good for the industry. CGI gets additional scrutiny because of its size and its unabashed focus on the business of sport.

Competitor Group Names Chairman Paul Walsh Interim CEO and George Gresham Interim CFO

DECEMBER 10TH, 2013

SAN DIEGO – December 10, 2013 – Competitor Group, Inc., (CGI) the leading active lifestyle sports media and event entertainment company, today announced that its board of directors has named Paul F. Walsh as interim CEO and George Gresham as interim CFO while it conducts a worldwide search to find a permanent replacement for Scott Dickey and Steve Gintowt, both of whom are transitioning out of the company.

“We appreciate Scott and Steve’s endeavors over the past five years, adding many world-class events and brands to the company, and their hard work as the business transitioned ownership,” said Walsh. “The board and I could not be more excited about the future of Competitor Group and now are focused on positioning the company for strategic growth through continued innovation and building upon the strong foundation of quality branded events, compelling content and world-class services CGI has provided.”

Walsh is currently chairman of the board of CGI and brings more than three decades of global executive experience to his new role with CGI. Previously, Walsh served as CEO of eFunds Corporation (NYSE: EFD), Wright Express, BancOne Diversified Services and Diners Club Germany. Walsh also serves as a director of Staples, Inc. (NASDAQ:SPLS), as chairman of the board of Sterling InfoSystems, and is a former member of the board of trustees at the Thunderbird School of Global Management.

Gresham also brings extensive experience and financial expertise to CGI and has been acting as an advisor to the company. Previously, Gresham served as executive vice president and CFO of NetSpend Holdings (NASDAQ: NTSP) where he led a successful initial public offering in 2010. Prior to that, he was CFO at GCA Holdings (NYSE: GCA) and eFunds Corporation, where he worked closely with Walsh.

About Competitor Group, Inc.

Headquartered in San Diego, Calif., Competitor Group, Inc. (CGI) is the active lifestyle industry’s leading media and event entertainment company. CGI’s portfolio of media assets span the full range of the expanding endurance industry and include a robust digital community on the web and on mobile across the Competitor Endurance Sports Network of websites. Additionally, Raceit.com, a leading digital registration platform, is the catalyst for the company’s race services offering that looks to meet the needs not only for the company’s owned and operated events, but also for endurance events of all sizes on behalf of the entire industry.

CGI owns and operates 83 events around the world, including the flagship Rock ‘n’ Roll Marathon Series, TriRock Triathlon Series, NFL Run Series, Women’s Running Series and the REI Muddy Buddy Series, collectively delivering more than 600,000 professional and amateur participants in 2013. Anchoring the company with rich content and marketing leverage are five publishing properties dedicated to running, cycling and triathlon including Velo, Inside Triathlon, Triathlete, Women’s Running and Competitor with a combined monthly circulation of over 700,000. Further information about CGI and its digital, publishing and event properties can be found at CompetitorMediaKit.com.

Author

Larry Eder

Larry Eder has had a 52-year involvement in the sport of athletics. Larry has experienced the sport as an athlete, coach, magazine publisher, and now, journalist and blogger. His first article, on Don Bowden, America's first sub-4 minute miler, was published in RW in 1983. Larry has published several magazines on athletics, from American Athletics to the U.S. version of Spikes magazine. He currently manages the content and marketing development of the RunningNetwork, The Shoe Addicts, and RunBlogRun. Of RunBlogRun, his daily pilgrimage with the sport, Larry says: "I have to admit, I love traveling to far away meets, writing about the sport I love, and the athletes I respect, for my readers at runblogrun.com, the most of anything I have ever done, except, maybe running itself." Also does some updates for BBC Sports at key events, which he truly enjoys.

Theme song: Greg Allman, " I'm no Angel."

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