Big moves continue at the Bar & Shield brand, as Jochen Zeitz has been named as the permanent replacement to Matt Levatich, dropping the “interim” part of his title as President and CEO of Harley-Davidson, effective immediately.
The move isn’t too much of a surprise for Harley-Davidson, as Zeitz was always a front-runner for the positions, after he took the temporary assignments over two months ago.
Coming closely after the news that Harley-Davidson would drop the “More Roads” business plan for a new corporate strategy, dubbed “The Rewire”, the American motorcycle maker is returning to a position that more closely follows where it was before Levatich took the helm.
To earn his seat at the top of Harley-Davidson, Zeitz had to contend with a proxy fight with Impala Asset Management, which is likely a factor in Harley-Davidson’s “Rewire” plan, as Impala was pushing the Harley-Davidson board to return to its path as an American cruiser producer.
“As the uncertainty surrounding the COVID-19 crisis and recovery persists and given the significant changes that are needed at the company, solidifying Jochen as CEO demonstrates both the board’s confidence in him and Jochen’s commitment to leading the company through this extraordinary time,” said Thomas Linebarger, who has now also been appointed Presiding Director on at Harley-Davidson.
“His two decades of experience as Chairman & CEO of a leading global company and brand, and his enthusiasm and determination to challenge everything about the company based on his turnaround experience is exactly what we need right now to lead Harley-Davidson to long term success. He has the unequivocal support of the board,” finished Linebarger.
Prior to coming to Harley-Davidson’s board of directors, Zeitz is best known for his time at the Puma athletic brand, where he served as Chairman and CEO for eighteen years (1993 to 2011). Jochen Zeitz was also Puma’s CFO from 1993 to 2005.
Zeitz remained Chairman of Puma after being appointed CEO of the Sport and Lifestyle division at luxury goods company Kering (formerly PPR) from 2011 to 2012. He then served as a director on Kering’s Board of Directors from 2012-2016.
Make no mistake, making Zeitz the full-time CEO and President of Harley-Davidson marks a pivotal moment for the iconic American brand.
First, the German will have to stabilize the company’s business as the entire industry adapts to the life in the COVID-19 pandemic. Next, he will have to define a new business strategy for the Harley-Davidson, one that will likely define the future success of the brand.
The current times are a make-it-or-break-it moment for Harley-Davidson, and it is clear now that it will be Jochen Zeitz at the helm of the ship as they navigate these troublesome waters.
Source: Harley-Davidson
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