Harley-Davidson (HOG) activist investor H Partners is preparing for a board battle to remove three directors, including chief executive officer Jochen Zeitz, following a sharp decline in sales and a plummeting stock price, multiple media outlets reported Wednesday.
H Partners plans to launch a campaign to remove Zeitz, as well as directors Thomas Linebarger and Sara Levinson, at Harley's annual meeting on May 14, these reports said.
The firm will advocate for a 'withhold-the-vote' strategy, urging other shareholders to reject the re-election of the three longtime board members, these reports added.
The move comes after H Partners called on Zeitz, who became CEO in 2020, to step down immediately, according to these reports.
Harley-Davidson did not immediately respond to MT Newswires' request for comment.
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