From the statement issued by Harley last Friday evening, President and CEO Matthew Levatich steps down. According to sources, Levatich’s relationship with Harley- Davidson ends after 26 years as Harley struggles with sales and stocks in the past few years. The Board of Directors has appointed current Board member Jochen Zeitz as Acting President and CEO. The Company will utilize an external search firm to undertake a search for a new CEO, and a further announcement will be made at a later date. However, Levatich will assist with the transition through the end of March.
“I am very fortunate to have spent many years with a company as revered as Harley-Davidson. The grit and determination of the employees and dealers and their passion for bringing our brand of freedom to people around the world has always been inspiring. I am proud of what we have achieved during my time as CEO, in one of the most challenging periods in our history, and I am confident that the progress we have made on the More Roads plan will position Harley-Davidson for long-term success” said Levatich.
On top of this, as part of this leadership change, Jochen Zeitz has also been named Chairman of the Board. He will remain as the Chairman once a new CEO gets in. On the other hand, the current Chairman of the Board, Michael Cave, is now the Presiding Director.
Jochen Zeitz has been a member of the Harley-Davidson Board of Directors since 2007. He served as Chairman and CEO of PUMA from 1993 to 2011. He was also the CFO from 1993 until 2005. On top of this, Zeitz was also the director, member of the executive committee and CEO of sport and lifestyle division of Kering. He was also a board member of Cranemere Group Limited and the board of the B team which he co-founded.
As quoted from Harley’s statement, Zeitz said, “The Board and Matt mutually agreed that now is the time for new leadership at Harley-Davidson. Matt was instrumental in defining the More Roads to Harley-Davidson accelerated plan for growth, and we will look to new leadership to recharge our business. On behalf of the Board, I would like to thank Matt for his 26 years of service to Harley-Davidson. He has worked tirelessly to navigate the Company through a period of significant industry change. While ensuring the preservation of one of the most iconic brands in the world.”
“The Harley-Davidson Board and leadership team will continue to work closely together as we search for a new CEO. We have confidence that our combined leadership experience and deep understanding of Harley-Davidson will ensure an effective transition. As a passionate Board Member of Harley-Davidson, I look forward to continuing to work with my colleagues and other Harley-Davidson stakeholders to advance and deliver the Company’s strategy and execution during this important time,” Zeitz continued.
Well, we are yet to see what the future holds for Harley. With the change in leadership, we are not sure what would happen to “More Roads to Harley-Davidson” strategy. This puts models such as the HD338 and other special models that were already planned in question.
Source: Harley Davidson