Harley-Davidson will look for new leadership as President and CEO Matthew Levatich is stepping down.
The company announcing Friday Levatich will also leave their Board of Directors. He will assist with the transition through the end of March.
Levatich has been with Harley-Davidson since 1994.
“I am very fortunate to have spent many years with a company as revered as Harley-Davidson,” says Levatich in a statement. “The grit and determination of the employees and dealers and their passion for bringing our brand of freedom to people around the world has always been inspiring. I am proud of what we have achieved during my time as CEO, in one of the most challenging periods in our history, and I am confident that the progress we have made on the More Roads plan will position Harley-Davidson for long-term success.”
Harley-Davidson says their Board of Directors has appointed board member Jochen Zeitz as Acting President and CEO, as well as Chairman of the Board. Current Chairman of the Board Michael Cave will be Presiding Director.
“The Board and Matt mutually agreed that now is the time for new leadership at Harley-Davidson,” says Zeitz in a statement. “Matt was instrumental in defining the More Roads to Harley-Davidson accelerated plan for growth, and we will look to new leadership to recharge our business. On behalf of the Board, I would like to thank Matt for his 26 years of service to Harley-Davidson. He has worked tirelessly to navigate the Company through a period of significant industry change while ensuring the preservation of one of the most iconic brands in the world.
“The Harley-Davidson Board and leadership team will continue to work closely together as we search for a new CEO. We have confidence that our combined leadership experience and deep understanding of Harley-Davidson will ensure an effective transition. As a passionate Board Member of Harley-Davidson, I look forward to continuing to work with my colleagues and other Harley-Davidson stakeholders to advance and deliver the Company’s strategy and execution during this important time.”
The company plans to use an outside search firm to find a new CEO. More details will be released at a later date.