Further evidence that the business deals done in the past on the golf course are now being done on bikes. Planning this week’s mega-deal between Vodafone and Verizon took place as much in the saddle as in the boardroom. The final price was agreed by the two CEOs, Vittorio Colao of Vodafone and Lowell McAdam of US mobile giant Verizon whilst they were on exercise bikes in the gym of a San Francisco hotel.
The two CEOs share a passion for cycling, that Reuters points out has seen them race together. McAdam socializes with some employees during bike rides or a run rather than over dinner or drinks. Colao lists cycling amongst his main passions, and spends times on two wheels whether climbing in the Alps in his native Italy or cycling between Vodafone stores in London.
If you haven’t already done so, it might be time to put the golf clubs on eBay and stock up on arm warmers and a waterproof gilet for the winter’s business deals.