By Dean Seal
A large Harley Davidson shareholder has kicked off a campaign to remove three members of the motorcycle maker's board, confirming an earlier report from The Wall Street Journal.
H Partners, an investment firm with a roughly 9% stake in Harley-Davidson, said Wednesday morning that it is urging shareholders not to reelect three incumbent directors, including Chief Executive and Chairman Jochen Zeitz.
The firm is pushing for an accelerated departure of Zeitz from his top roles, calling him an absentee leader who shouldn't be making long-term decisions for the company after having already expressed his intention to retire this year.
Dealer sentiment has fallen to an all-time low under Zeitz's leadership, H Partners said, accusing the CEO of major execution issues.
"The underperformance of Harley-Davidson under Mr. Zeitz is undebatable," the firm said in a letter.
H Partners is also seeking the removals of Presiding Director Thomas Linebarger and Sara Levinson, a board member for 29 years, saying the board in its current form can't be trusted to oversee the CEO succession process.
The Wall Street Journal reported Tuesday night that H Partners was preparing to move against Zeitz, Linebarger and Levinson.
Write to Dean Seal at dean.seal@wsj.com
(END) Dow Jones Newswires
April 16, 2025 07:34 ET (11:34 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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