Harley-Davidson chief steps down as sales slump continues – The National

  • Date: 29-Feb-2020
  • Source: The National
  • Sector:Retail
  • Country:UAE
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Harley-Davidson chief steps down as sales slump continues – The National

Company appoints Jochen Zeitz, who turned around the Puma brand in the 1990s, as interim head. Harley-Davidson said Mr Zeitz will serve as interim chief executive until an external search firm helps find a new chief executive.. "It is not about the next quarter or earnings per share," Mr Uhlarik said.. As its tattooed, baby-boomer consumer base ages, the Milwaukee-based company is finding it difficult to attract new customers.. Mr Levatich, who took the company's reins in May 2015, bet on new launches, including battery-powered bikes, to turn around the company's fortunes in the domestic market.. Harley's 2019 US bike sales were the lowest in at least 16 years.. Falling sales in the past 12 quarters have forced the company to limit production of its bikes to prevent price discount pressure and protect profit.. Overall, revenue for 2019 dropped 6 per cent to $5.36bn (Dh19.7bn).. Since Mr Levatich took the helm, Harley's shares have fallen 46 per cent.. On Friday, the company's shares closed down 2.2 per cent at $30.47..