Harley-Davidson Investors Sour on CEO Zeitz’s Turnaround Plan
- Motorcycle maker posted first quarterly loss in over a decade
- Shares drop as much as 11% in sharpest decline since March
Photographer: Kiyoshi Ota/Bloomberg
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Harley-Davidson Inc. investors who cheered the appointment of a turnaround artist don’t like the early rendition of his makeover for the ailing motorcycle maker.
Jochen Zeitz, a former Puma SE boss who became chief executive officer in February, has been working to shrink the company and narrow its focus amid a five-year sales slump in its core U.S. market. He has cut roughly 14% of the workforce, pruned its dealer network and delayed product launches.