(Reuters) -Harley -Davidson, Jochen Zeitz, plans to retire as CEO in 2025 after five years in the role, the American motorcycle manufacturer announced on Tuesday.
Zeitz, who had helped rekindle the matters of the German brand of the Puma shoe brand, joined Harley’s Board in 2007 and was operated as CEO in May 2020.
Harley’s shares increased from $ 3.3% in exchange for preheating in the middle of a wider market.
Zeitz, 62, launched the “Hardwire” strategy in 2021 to relaunch the legendary motorcycle manufacturer who had trouble connecting with young runners like his aged baby-boomer customer base.
The five -year strategy involved prioritizing products with high margin, getting out of international markets with a low sales volume and modernizing the attraction of the brand.
However, Harley in February provided that income from profits and motorcycles of 2025 be stable at 5%, consumers temper large ticket purchases.
The company’s shares have increased by more than 11% since Zeitz covered, compared to the 77% increase in the reference S&P index.
The Harley Board of Directors said he had launched a research process and that Zeitz should remain until a successor is appointed.
(Report by Abhinav Parmar and Shivansh Tiwary in Bengaluru; edition by Anil d’Ilva and Sriraj Kalluvila)
