Matthew Levatich will be leaving his post as the CEO of Harley-Davidson.
Harley-Davidson officially announced that Matthew Levatich will be leaving his post as the company’s chief executive officer (CEO).
This, after a motorcycle maker Harley-Davidson has been struggling with its declining sales in the United States as it tried to adapt to an aging customer base while looking to expand its markets overseas.
The announcement also made after the markets closed, pushed the motorcycle maker’s shares up 5% in after-hours trading as Harley-Davidson had fallen 2.3% with the broader markets during the trading day.
Harley-Davidson reported its net profit of USD 423.6 million in 2019, yet the motorcycle maker only made USD 13.5 million in Q4. In addition, the company’s closing share price, as of February 28, was down 18% for the year.
Following Levatich’s decision, board member Jochen Zeitz will become the company’s acting president and chief executive officer while the board search committee was formed and Harley-Davidson hired an outside search firm to fill the job.
In a statement, Zeitz said that “the Board and Matt mutually agreed that now is the time for new leadership at Harley-Davidson.” Also, Harley-Davidson said that Levatich will stay in the company on through March in order to assist with the transition.
What can you say about this? Just feel free to leave your reactions in the comment section.
Thank you for visiting our website. We hope we have helped you with regard to this matter. You may keep coming back for more informative guides. For more news and updates, follow us on Facebook!
Stay tuned to Philippine Newspaper for more updates.
