KYMCO USA announces that Eric Bondy has resigned his position as President & CEO

Spartanburg, S.C. – KYMCO USA announces that Eric Bondy has resigned his position as President & CEO to pursue a new opportunity. To assist in the transition to new leadership, Bondy will continue with the company until December 15, 2011.

Mr. Ming Hsin Lee, current Senior Vice President of KYMCO USA, will assume the title of President and CEO effective December 16, 2011. A native of Taiwan, Lee spent the past four years stateside working as a liaison between KYMCO USA’s strong team of experienced U.S. Powersports professionals and the overseas factory. He joined KYMCO in 1984 and has since amassed experience in production, R&D, sourcing, quality control, IT, accounting and dealer development.

Bondy assumed day-to-day responsibility for all operational aspects of KYMCO USA in 2005 following nine years in various sales and marketing roles with Arctic Cat, Inc.

Bondy, named “Executive of the Year” in 2008 by Powersports Business magazine, was instrumental in building KYMCO USA to its position among the foremost scooter and ATV suppliers in the nation. Under Bondy’s leadership, the company also expanded its reach beyond the Powersports industry via strategic relationships with partners like the Indy Racing League (IRL), National Hot Rod Association (NHRA), Coca-Cola Co. and Ford Motor Co.

“I’ve been blessed and honored to be a member of the KYMCO USA team for the past seven years and the relationships gained over that time are cherished,” Bondy said in announcing the reorganization. “I leave the company in very capable and experienced hands with the naming of Mr. Lee to the CEO position. With the management team in place, I’m confident we’ll see great things in the future from KYMCO in the US market.”

About KYMCO KYMCO’s roots in the power sports industry go back to its founding in 1963 as the Kwang Yang Motor Co. Ltd. With headquarters in Kaohsiung, Taiwan, KYMCO has long been a leader in quality, fuel economy and versatility. Today KYMCO is the largest scooter manufacturer in Taiwan, exports to 89 countries worldwide, and manufactures scooters, motorcycles, ATVs and UXV side-by-side vehicles at five ISO-9001 quality accredited plants in Asia.

Serving consumers and a selection of valued OEM clients, KYMCO is committed to maximum customer satisfaction, constant innovation, and making use of the most advanced CAD/CAE tools to bring superior engineering and design to their products.

KYMCO USA, wholly owned by Kwang Yang Motor Co. Ltd., is the exclusive importer/distributor of KYMCO brand products in the United States. With its headquarters, marketing and distribution based in Spartanburg, S.C., KYMCO USA serves more than 700 dealers in the U.S. and Caribbean and is dedicated to building the brand’s reputation and market share through superior value, frequent new product introductions, excellence in dealer network support, participation in enthusiast events, race support and sponsorship, and strategic industry partnerships with organizations such as the National Hot Rod Association (NHRA), Indy Racing League (IRL), Ford Motor Co., Full Throttle (Coca-Cola) and Geico. Learn more at www.KYMCOUSA.com