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Harley-Davidson Inc. (NYSE:HOG) is under pressure from one of its largest shareholders, H Partners, which is calling for a major leadership overhaul. According to The Wall Street Journal, the investment firm, holding about 9% of Harley’s stock, is launching a campaign to oust CEO Jochen Zeitz and two long-standing board members—Thomas Linebarger and Sara Levinson—at the company’s annual meeting in May.
H Partners is urging shareholders to withhold their votes for Zeitz and the two directors, arguing that Harley-Davidson needs fresh, external leadership to reconnect with its customer base and dealer network. Zeitz, who has led the company since 2020, previously hinted at plans to step down. During his tenure, Harley's stock has dropped around 30%, and sales have continued to slide despite strategic efforts to stabilize operations.
The campaign follows the recent resignation of Jared Dourdeville, an H Partners executive, from Harley’s board. Dourdeville criticized the company’s remote work culture and high leadership turnover, citing concerns of "cultural depletion" under the current management.
Harley-Davidson has pushed back against the activist move, warning that the campaign could interfere with its ongoing CEO succession planning and disrupt the execution of its long-term strategic goals. Despite past restructuring and brand revival attempts, investor confidence appears to be waning as the company struggles to reverse its declining performance.
With shareholder tensions rising ahead of the May vote, the outcome could significantly reshape the leadership direction of one of America’s most iconic motorcycle brands.
