Well before the firing of Harley-Davidson CEO Matt Levatich (and it was a firing, no matter how much the Bar & Shield brand touts its “mutual decision” narrative), there has been a wrestling of control over the future of the iconic American motorcycle brand.
Dwindling share prices on the New York Stock Exchange necessitated a change of regime at Harley-Davidson, as shareholders saw a continued loss on their investment with the Milwaukee firm; and thus, a loss of confidence in management’s ability to run the company.
Now with Matt Levatich out and Jochen Zeitz taking on the role of interim CEO and President of Harley-Davidson, a new battle is being fought – what is known in the investing world as a proxy fight.