By John Keilman
Harley-Davidson's leaders will ride another day.
The motorcycle maker's shareholders on Wednesday rejected a proposal from activist investor H Partners to remove three long-serving members of the board of directors, including Jochen Zeitz, the company's chairman and chief executive.
The company announced the preliminary results during its shareholder meeting, but didn't reveal vote totals.
In a statement, H Partners said the vote had been "extraordinarily close" and pushed the company in a more promising direction. Harley didn't immediately comment on the vote.
The directors' victory means the current board will remain in control of choosing a new leader. Zeitz, the company's CEO since 2020, announced in April his intention to retire.
H Partners asked shareholders to withhold their votes from Zeitz, who joined the board in 2007; Thomas Linebarger, a board member since 2008; and Sara Levinson, who was appointed in 1996. Harley's bylaws require directors to resign if they receive less than 50% support from shareholders.
Write to John Keilman at john.keilman@wsj.com
(END) Dow Jones Newswires
May 14, 2025 16:38 ET (20:38 GMT)
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