HOG - Harley-Davidson Proxy Fight Ends With a Whimper
The proxy battle for Harley-Davidson's (NYSE: HOG) sclerotic board of directors ended before it barely even began.
A private equity (PE) fund was seeking two seats on the motorcycle maker's board. It capitulated to Harley's recommendation to wait until after the annual shareholder meeting. The two sides could then negotiate putting a single nominee on the board.
Investors who hoped a proxy battle would shake up the board -- which has no motorcycle industry experience to reverse the protracted slide in sales -- will need to wait longer for any change.