- Push-out Score determined
- After about five years in the position
- Praise and thanks for Levatich
- Jochen Zeitz taking over in the interim
- Search for a successor
- Levatich said 87 words
(exechange) — Milwaukee, Wisconsin, February 28, 2020 — Matt Levatich, chief executive of Harley-Davidson, leaves — as “mutually agreed.” As announced by Harley-Davidson Inc. in a news release on Friday, February 28, 2020, Matthew S. (Matt) Levatich leaves his post as chief executive officer at the motorcycle manufacturer after about five years in the role.
The exact date of Matt Levatich’s departure from his post was not explicitly stated in the announcement.
Harley-Davidson will undertake a search for a successor.
Matt Levatich’s duties as CEO will be taken over in the interim by Jochen Zeitz, a former Chief Executive Officer of Puma, as Acting Chief Executive Officer.
Already a director
Zeitz is already a director of Harley-Davidson. Generally speaking, most director-turned-CEO appointments occur following a sudden resignation of the outgoing CEO and signal a lack of preparedness on the company’s part to groom internal talent. On the other hand, directors-turned-executives represent a blend of outsider and insider.
They don’t have the constraints of a pure insider when it comes to leading painful changes or making unpopular decisions, and they have more company knowledge than a pure outsider.
Having been a director, Zeitz understands the expectations and dynamics of the board and has knowledge of Harley-Davidson’s organization, risk-management practices and strategy.
Harley-Davidson, Inc. still listed Levatich as President and Chief Executive Officer on its leadership page shortly after the announcement was published.
“To recharge our business”
A reason for Matt Levatich’s departure from the CEO post was not explicitly provided. Jochen Zeitz said: “The Board and Matt mutually agreed that now is the time for new leadership at Harley-Davidson. Matt was instrumental in defining the More Roads to Harley-Davidson accelerated plan for growth, and we will look to new leadership to recharge our business.”
Precise information regarding Matt Levatich’s future plans was not immediately available.
Harley-Davidson said: “Matthew Levatich has stepped down as President and CEO and as a member of the Board of Directors.”
Share price decline
The announcement follows a decline in Harley-Davidson Inc.’s share price of 46% since May 2015.
Chaired by Michael J. Cave
Harley-Davidson Inc. is chaired by Michael J. Cave.
Cave served as a Senior Vice President of The Boeing Company, the world’s leading aerospace company and the largest manufacturer of commercial jetliners and military aircraft, from 2010 to 2014.
In the position of CEO since 2015
Matt Levatich became CEO of the Company in 2015.
Levatich joined Harley-Davidson in 1994 and served as President and Chief Operating Officer of HDMC from 2009 until May 2015, when he became the Company’s President and Chief Executive Officer.
Levatich previously served as President and Managing Director of MV Agusta, a former subsidiary of Harley-Davidson, from 2008 to 2009, General Manager of Parts and Accessories and Custom Vehicle Operations from 2007 to 2008, and Vice President of Materials Management from 2003 to 2007.
Levatich holds an undergraduate degree in mechanical engineering from Rensselaer Polytechnic Institute.
He received his graduate degree in engineering management and an MBA from Northwestern University.
Levatich also serves on the board of directors of Emerson Electric Co.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding the management change on a scale of 0 to 10.
exechange reached out to Harley-Davidson and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 9.2020 ($).