Harley-Davidson has just presented Artie Starrs as the new CEO of the brand, the result of the restructuring process to which the company is being subjected in recent months. The reason is none other than the announcement of resignation of his current CEO, Jochen Zeitz, looking for an early retirement, as he himself announced just a few months ago.
Harley-Davidson present artie starrs, the new CEO of the company
Artie Starrs arrives from the business group Topgolf Callaway Brands where he did the functions of executive director of the Topgolf International subsidiary, Inc. Troy alsteadHD president director, he said during the appointment of Artie Starrs: “Artie is an consummated business leader who brings extensive experience in the management of solid brands and global operations.”
“His growth career, both in income and profits, added to his experience in franchise-driven sectors, are a fundamental asset for Harley-Davidson at this time in the company’s history. Artie includes the special place that Harley-Davidson occupies in the culture and life of our motorcyclists. “
He concludes: “I trust that Artie will be able to strengthen this connection with current motorcyclists, while attracting new people to the HD community.”For his part, Starrs himself said: “It is a great privilege to join Harley-Davidson as president and executive director, and I appreciate the opportunity to help direct this incredible company.”
Concludes: “For a long time I admire the unique position that Harley-Davidson occupies in the hearts of his pilots and fans; no brand offers the same level of community and rebel spirit as Harley-Davidson. I am excited about the enormous potential to boost growth and further improve the HD experience for all, and I hope to work with the dedicated employees and the Harley-Davidon dealership network on this joint trip.
Harley-Davidson announces a strategic association with KKR and Pimco
Just a few days before the announcement of Artie Starrs as the new CEO of Harley-Davidson, the sale agreement of one of the subsidiaries that make up to the American group was official: Harley-Davidson Financial Services (HDFS). As detailed from Ride Apart, the company has three very differentiated structures within it. In addition to the aforementioned, we have Harley-Davidson Motor Company (HDMC) and Livewire.
One is in charge of the management of combustion fleets and the other the brand founded by the Yankee Corporation for the manufacture and sale of motorcycles within segment EV. Regarding the first of them, HDFS, from Harley-Davidson explains that “It will sell 4.9% of its participation in the common capital to investment vehicles managed by KKR and Pimco, with an implicit assessment of approximately 1.75 times its price on the accounting value after the transaction.”
Also clarify that “Harley-Davidson will retain HDFS control, which will continue to generate and manage consumption loans, both existing and new. The company expects HDFS operational income to reach the levels prior to the transaction over time.”
In this way the company plans to use the approximately 1,250 million dollars of cash unlocked through the transaction to reinvest in support of demand promoted by the demand, reduce 450 million dollars of HDI debt and return approximately 500 million dollars to the shareholders. Jochen Zeitz has said about this agreement:
“This transaction offers benefits to all Harley-Davidson shareholders and marks the beginning of a new and exciting chapter for HDFS. For our clients and dealers, HDFS will continue to generate and manage new and existing loans, and provide them with a service, benefits and flexibility according to which HDFS currently offers, while investing in the future of Harley-David years.”
