H Partners, one of Harley-Davidson’s largest investors with nearly 10% ownership, is pushing for significant changes in management, specifically calling for CEO Jochen Zeitz to resign despite his upcoming retirement. The firm cites concerns over the company’s high inventory levels and strained dealer relationships, which it argues have detrimentally impacted performance, as reflected in the stock’s meager 11% gain over the past five years compared to the S&P 500’s 88%. This comes on the heels of declining quarterly revenues, with a reported 45% drop year-over-year and losses per share drastically contrasted with previous profits.
H Partners, holding nearly 10% of Harley-Davidson shares, is demanding management changes and plans a campaign against CEO Jochen Zeitz and long-serving board members.
H Partners believes Harley's inventory levels are too high and it has weak dealer relationships, which has contributed to the company's poor stock performance.
The Wall Street Journal reported that Harley's stock has only risen 11% over five years, starkly contrasting with the S&P 500's 88% gain in that time.
CEO Jochen Zeitz attributed Harley's poor quarterly results to ongoing market conditions, including high interest rates affecting consumer confidence.
Collection
[
|
...
]