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Photo credit: Harley Davidson
American motorcycle manufacturer Harley-Davidson has been in the headlines repeatedly this year due to ongoing controversy in the ranks of senior leadership. Here's all the current info on the unfolding drama at the Motor Co.
CEO Jochen Zeitz is Out
Current Harley Davidson CEO Jochen Zeitz announced his plans to resign from the company earlier in the year. The decision came as Zeitz received increased scrutiny from HOG fans and investors concerning the direction of the company.
Zeitz has been blamed for some unpopular decisions over the years, including the choice to axe the Bronx Streetfighter project, DEI initiatives, and an ongoing commitment to a costly push into the EV segment, which remains largely unsuccessful.
Jared Dourdeville Quits Board of Directors
Photo credit: Harley DavidsonShortly after Zeitz's departure was confirmed, fellow board member Jared Dourdeville went on to call for the immediate resignation of fellow board members Tom Linebarger and Sara Levinson. Four days later, he resigned from the board himself.
Dourdeville detailed his reasons for leaving in a series of letters, citing issues of transparency, accountability, and "severe underperformance." He also noted a "cultural depletion" due to remote work policies and a "revolving door of senior leadership."
Activist Investors Push for Board Changes
Photo credit: Harley DavidsonIndependent investment firm H Partners Management, Harley-Davidson's second-largest shareholder owning just over 9% of the company, is now pushing to block the re-election of existing board members at H-D.
The firm's demands, as detailed on its campaign website FreeTheEagle.com, include the immediate resignation of Zeitz as well as a vote against incumbents Thomas Linebarger and Sara Levinson to be re-elected to the board of directors.
An Unsuccessful Search for a New CEO
Photo credit: Harley Davidson
Under his current agreement with the company, Jochen Zeitz is set to remain as acting CEO until a suitable successor is found. The search has been ongoing since Zeitz first expressed an interest in retiring in Q4 of 2024.
After a thorough search, the board identified three potential candidates for the role. All three were interviewed and evaluated, however, H-D confirmed in a recent SEC filing that none were found to be suitable, so the open-ended search continues.
