Pro’s Closet CEO to step down

LOUISVILLE — Weeks after his company raised $12 million in new funding and confirmed that it would move to a new headquarters in Louisville, The Pro’s Closet LLC CEO Nick Martin is stepping down from the used bike retailer.

In a letter on the company’s blog, Martin said he would step aside in mid-October to make way for John Levisay to take the company’s top spot.

Levisay, currently a board member for The Pro’s Closet, lists himself as the founder and CEO of Denver-based craft tutorial company Craftsy on his LinkedIn profile. NBCUniversal acquired that company in 2017 for a reported $230 million but sold portions of the company’s portfolio to a Minneapolis-based marketing service in July after shutting it down this spring.

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Martin wrote that while he enjoyed overseeing the company’s founding and later growth, he decided that he didn’t have the expertise or emotional capacity to lead the retailer to a new phase in its life.

“After countless hours reflecting on those questions, and many long, honest conversations with my wife Elizabeth, we have come to the decision that the time has come to turn over the reins as CEO to a leader who has the experience and capacity to successfully guide TPC into its next chapter of growth,” he wrote.

Martin intends to stay with the company in an as-yet-undefined leadership role.

The Pro’s Closet was formed in 2006 and bills itself as the world’s largest retailer of used bikes and components. In his letter, Martin said the store is aiming to sell 30,000 bikes next year.

It recently confirmed it would move from Boulder to the former North American headquarters for Swedish retailer Fenix Outdoor AB in Louisville.

The company said the CEO change will not impact the move.