Harley-Davidson (HOG) director Jared Dourdeville has stepped down from the board, citing "grave concerns" about the state of the company.
In a letter dated Saturday, Dourdeville noted the "severe underperformance" of the company's shareholder returns, lack of accountability and transparency from the board and management, and poor succession planning.
Dourdeville said he previously recommended the immediate resignations of CEO Jochen Zeitz and board members Tom Linebarger and Sara Levinson as part of his proposed actions to address the company's performance.
Dourdeville represents shareholder H Partners on Harley-Davidson's board and said H Partners intends to remain a significant shareholder.
Harley-Davidson said Tuesday that Zeitz will retire this year and that a search for his successor was underway.
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