According to Juwon Kim from Scott's South Korean majority shareholder Youngone, Beat Zaugg has been dismissed without notice by the Scott Board of Directors. And the native of Bern, who has been at the helm of Scott since 1993, is no longer CEO. But Zaugg denies this and continues to work.

Scott patron Zaugg denies this: He is CEO of Scott. The report by Radmarkt.de is based on a PR article by Scott majority owner Youngone, in which he only had the opportunity to contribute his perspective at the end. Only this is certain at the moment: the house blessing between Scott and Youngone is definitely out of kilter, and the power struggle for the Scott leadership is probably underway.

One person is closely associated with the Scott brand - at least behind the scenes: Beat Zaugg. Since 2015, the Korean company Youngone has been the majority shareholder with more than 50 percent of Scott shares. The Board of Directors has now dismissed Beat Zaugg as CEO without notice in his absence.

It's no secret that the bicycle industry is struggling with problems. Overstocked warehouses meet low demand, discount battles are the result, profits are collapsing - and bankruptcies are already the consequence. Scott Sports, based in Givisiez in the canton of Fribourg, has not remained unscathed by these developments. Scott's majority shareholder Youngone is taking countermeasures and providing the bike and outdoor specialist with a financial injection of around 150 million Swiss francs.