In a surprise press release late-today, Harley-Davidson announced that Matt Levatich will be taking over as the company’s CEO, starting May 1, 2015. Levatich will replace current CEO Keith Wandell, who took on his role in the company on May 1, 2009 — in the middle of the great economic recession.
The news is perhaps less shocking to industry insiders and analysts, who are familiar with the reasons behind Wandell’s tenure as CEO, and where Harley-Davidson stands today.
For sometime now we have been wondering when Harley-Davidson would initiate the next phase of its business plan, and whether Wandell would be a part of the company going forward.
As the symmetry of the tenure shows, today’s news is also a tip by Harley-Davidson that the swap in CEOs is do more to a new company direction than a reflection on performance.
Keith Wandell came from Johnson Controls, where he served as the company’s COO and President. With a reputation for cutting costs and streamlining business operations, Wandell was just the man Harley-Davidson needed to take the company from a pre-recession motorcycle company to a post-recession motorcycle company.
Both by renegotiating with Harley-Davidson’s unions, and dropping Harley-Davidson’s struggling positions in MV Agusta and Buell Motorcycles, Wandell helped right the ship at Harley-Davidson, and his actions likely saved the company from bankruptcy at the time of his installment.
“Keith has been a transformational and visionary leader who joined Harley-Davidson at a critical juncture in its history,” said Richard Beattie, Independent Lead Director at Harley-Davidson. “He developed strong leaders throughout the company and at the same time transformed how Harley-Davidson does business. We owe a huge debt of gratitude and thanks to Keith for Harley-Davidson’s many achievements and advances under his leadership.”
With Harley-Davidson now again a secure and profitable machine, it should come as no surprise then that Wandell’s position will pass to the next generation of CEO at Harley-Davison — a person who will build upon the “Rushmore” liquid-cooled powerplant program, as well as the “Livewire” electric motorcycle project.
Levatich joined Harley-Davidson in 1994, and has held roles throughout the company, including heading MV Agusta, and his current role is COO and President of Harley-Davidson Motor Co. (not to be confused with parent company Harley-Davidson, Inc) — a role he has held since Wandell became CEO in May 2009.
Our most likely pick as a successor, we can expect Levatich to be product focused in his leadership, and continue to build value in the Harley-Davidson brand.
He holds an undergraduate degree in mechanical engineering from Rensselaer Polytechnic Institute, as well as a Masters in engineering management and an MBA from Northwestern University.
“It’s a great honor to become the next CEO of this iconic company,” said Levatich. “As we look to the future, we believe there are tremendous opportunities to build on our many strengths. Harley-Davidson is one of the world’s most-powerful and revered brands, and through our strategies to provide unrivaled products and experiences for our customers, we aim to extend our reach and work to realize our full potential as a growing global company.”
Harley-Davidson has released information that in addition to stepping down as CEO of Harley-Davidson Inc, Keith Wandell will not seek re-election as Chairman of the company’s Board of Directors.
Source: Harley-Davidson
No comments:
Post a Comment