HOG - Will the Resignation of Harley-Davidson's CEO Lead to a Turnaround?
After five years of falling sales and a stock price that's been nearly cut in half, Harley-Davidson (NYSE: HOG) CEO Matt Levatich is calling it quits.
The motorcycle giant announced last Friday he had stepped down as president and CEO, and had also resigned his seat on the board of directors. The statement doesn't say whether the move was initiated by Levatich or the board, though it does say he will assist in finding a permanent replacement through the end of March.
While I've said Harley-Davidson needed someone new at the top for some time, the parting of ways is only a half measure. The big bike maker still needs a new board, as there is not a single director currently serving who has any relevant industry experience.