Harley-Davidson CEO Jochen Zeitz is retiring after five years with the Milwaukee-based motorcycle manufacturer
Zeitz will stay on with Harley until the board of directors finds his replacement
the company said in a news release Tuesday
Here’s what to know about his pending retirement:
The search process for Zeitz’s replacement was initiated in the fourth quarter of 2024 after he expressed interest in retiring in 2025
the former CEO of sporting-goods manufacturer Puma
replaced Harley CEO Matt Levatich in February 2020
He took the helm at Harley-Davidson in an especially difficult time
It was early 2020 and the company was in trouble
and the growth strategy hadn’t produced results
The new CEO launched a turnaround plan which doubled down on Harley’s core products: touring bikes
He made changes in senior leadership roles and focused on rebuilding the brand
Harley reported a fourth quarter 2024 loss of $117 million as its motorcycle revenue fell sharply and its Live Wire electric bikes continued to lose millions
The company said high interest rates contributed to eroding consumer confidence and sales declines
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Jochen Zeitz is preparing to retire as chief executive officer of Harley-Davidson, with the company beginning a search for his successor. A polarizing figure among the Harley faithful, Zeitz was a member of the board of directors since 2007, before being appointed interim CEO and then CEO in 2020 as a replacement for Matthew Levatich
UPDATE April 10: a member of Harley's board has resigned
shed some light in the goings-on behind why Zeitz announced his retirement plans now
Zeitz expressed an interest in retiring from the company during the fourth quarter of 2024
Harley-Davidson then began its search for a replacement
but only now publicly confirmed the search was ongoing
Zeitz will remain as CEO until a successor is brought in
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has developed a firm grasp of industry trends
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and H-D is the last company that could successfully pitch them to their highy-opinionated
has any company's DEI program ever hurt you
Bonus Question: to anyone who says they are "anti-DEI," do you comprehend that you're telling the world that you are a racist
Looking forward to seeing the Bronx with 150 HP
Zeitz to remain at the helm until a successor is found
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With the markets in turmoil as President Trump waged his tariffs across the board
and with the EU looking to retaliate against the administration
putting Harley in the crosshairs of European lawmakers
the news came out that the Motor Company’s president and CEO
Zeitz has been a polarizing figure at Harley-Davidson over the past few years since he took the reins of the iconic American brand during the Covid pandemic in 2020. Reuters and other news outlets, including the Milwaukee Journal Sentinel
reported that Zeitz is stepping down from Harley after five years at the helm
“The search process was initiated in Q4 2024 with the retention of a leading executive search firm after Zeitz expressed his interest in retiring from the company in 2025 after five years in the CEO position,” The statement also notes that Zeitz will remain as CEO until such successor is identified “to ensure an orderly leadership transition.”
The board thanked Zeitz for his many contributions to the company as CEO. These contributions included the creation and successful execution of the Hardwire
the company’s five-year strategic plan (2021-2025)
and his leadership during one of the most challenging operating environments in the company’s history
when you want to get more out of an engine
that is what we are doing with our Hardwire strategy
tuning the engine of our business for improved acceleration and increased performance,” Zeitz said in 2022 as the Hardwire strategy was being implemented
The Hardwire strategy aimed to revive the brand as it has struggled to connect with young riders
Harley’s key customer base is the Baby Boomer age group
The five-year strategy prioritized high-margin products
and the company also left markets where volumes and margins were low
“The launch of our new Street Glide and Road Glide touring motorcycles contributed to nearly 5% growth in the U.S.,” he said in a statement
“Touring segment and drove H-D’s market share to 74.5% in ’24
The decisions we have made and the bold actions we have taken as part of our Hardwire strategy are continuing to strengthen our foundation for the future
The industry has faced many challenges over the past couple of years
but we believe we are best positioned to take advantage of any uptick in consumption.”
Zeitz was a member of the Harley-Davidson board of directors since 2007 and established the company’s brand and sustainability committee
He served as chairman and CEO of Puma for 18 years
Zeitz remained chairman of Puma after being appointed CEO of the luxury goods company Kering (formerly PPR) from 2011 to 2012
Zeitz said at the time of his appointment as CEO
my decision to become the president and CEO of Harley-Davidson reflects my deep passion and commitment to this company…”
But turmoil began last year when Harley was confronted by online attacks about its diversity
This angered many keyboard warriors and brand loyalists alike
Then came the issue of manufacturing in Thailand
which the company announced it was going to do in 2018
“As part of our overall manufacturing optimization strategy,” the company said in 2024
“Harley‐Davidson is to temporarily transition the production of its non‐core Revolution Max powertrain equipped models to its manufacturing facility in Thailand for model‐year 2025
This does not have an impact on employment at U.S
Harley stated that its core products of touring bikes
and Softail models for American customers would remain in the U.S.
and that it would invest $9 million in its York
The announcement about moving production overseas was met with derision from some of Harley’s customers
This also put more heat on Zeitz as these customers saw him as a European outsider
While Zeitz had his share of detractors, he had the board’s support and managed to make some gains in the process. But time will tell how his strategies play out. He also spun off the electric brand into its own company, Livewire
which continues to lose money as customers have not gravitated to these electric motorcycles yet
The Street Glide is their outfitted touring bike for 2025
I finally bought a brand new Indian Pursuit
It does everything better than my Road Glide
smoother and loaded with things that Harley doesn’t even offer as options
the intro to Harley for alot of people was the Sportster
Not everybody can afford 20K for there 1st bike or are ready to ride a bike that big
But you need to get there attention so having the sportster was the 1st step in the right direction
Zeitz started off with a good stance after the miraculous ousting of Levatich- who started all of this nonsense you see today: loser Livewire
foreign-made and apparently a dislike for U.S
Presidents that try to help Harley-Davidson
This should not have come out the other end as bikes that are too expensive
making products customers don’t want
still going to Thailand even though you said you wouldn’t and stupidly just before tariffs (in spite of the President asking H-D to NOT go abroad)
So let’s talk about the Sportster…
the longest running continuous line of motorcycle I can think of
Because it doesn’t make a huge profit per motorcycle
how many board members or top executives are actually motorcyclists
They sadly discontinued the lineup and sent the longest-running motorcycle off without even a whisper
no accounting for the number of Sportsters and owners out there (I am one)
Just brushed under the carpet and moving on
and telling of the short-on-both ends character of those running and governing this great brand
My apologies and pity to those in the company who are trying very hard to convince the brass to do the right thing
lets go over “the right thing:”
1) ALL motorcycles for the North American Market will be made in the United States of America
We will forgive using Showa and great manufacturers…but they must manufacture them HERE
2) Motorcycles for people who are not lawyers
etc; your entry level bikes do not have to be cheap
Why did I buy a Sportster for $12K you ask
and magical sound and power delivery are ALL H-D unique
because if I need more bike I will buy an additional bike
Think about that next time you start cheaping-out on parts and finishes
Do you think H-D customers want to hear your take on your social issues
Don’t Bud-Light a perfectly good company that it’s customers like more than its executives or board
not when you decide your date of retirement)
That CEO has to be an American- born and raised here
and hopefully had something to do with brand success at H-D
which is the most important in sales and the selling of this brand abroad
how many electric Harleys have you seen driving down the road
sold my 2015 CVO Road Glide and bought a new Goldwing which runs perfectly and rides as a touring bike should
and website in this browser for the next time I comment
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Jochen Zeitz has called time on his career as Harley-Davidson CEO after five years at the helm
who joined Harley-Davidson as a board member in 2007
previously headed sporting brand Puma and was moved into the H-D top job in 2020 as a replacement for Matthew Levatich
Zeitz’s tenure at The Motor Company saw him instigate the “Rewire” plan
one that was the opposite of Levatich’s “More Roads” imitative that would see the brand expand into new market segments
“Rewire” meant potentially lucrative projects like the much-lauded Harley-Davidson Bronx nakedbike remained stillborn
“Rewire” was later replaced with “Hardwire”
a five-year plan in which the company doubled down on revamping its core touring line-up
while also bringing the LiveWire electric motorcycle to market
a machine that has proven to be a sales disaster
Zeitz for his many significant contributions to the Company as CEO,” a statement from Harley-Davidson said
the creation and successful execution of Hardwire
the Company’s five-year strategic plan (2021-2025)
and his leadership during one of the most challenging operating environments in the history of the Company.”
Zeitz’s tenure saw him preside over declining sales and reduced company profits
factories at the onset of the Coronavirus pandemic and the rising cost of raw materials exacerbated an already delicate situation for the company
and it got worse in 2021 when the European Union threatened a 56 percent tariff on U.S
This would effectively close the region off to the company as Europe is the Harley-Davidson’s second largest market outside of the United States
The proposed 56 percent tariff was later dropped by the EU
but only after it cost the company millions of dollars
The company also absorbed a $166 million loss in 2018—before Zeitz’s time—due to European tariffs
the current Trump administration’s wide sweeping tariffs could have a disastrous impact on the beloved America brand
with the EU reinstating the proposed 56 percent tariffs in retaliation
This could see European prices surge to over six figures
where a number of Harley-Davidson’s lower capacity and cost motorcycles are manufactured at the company’s plant in the country’s south
This would see the cost of such machines jump sharply
Declining sales and during Zetiz’s time saw Harley-Davidson report a fourth quarter 2024 loss of $117 million
with domestic market share shrinking by 13 percent in the same period
Harley-Davidson posted a profit of $455 million
although sales of its premium grade touring machines went up by eight percent in North America
Zeitz will stay on as Harley-Davidson CEO until a replacement is found
For more Harley-Davidson news and reviews, click here
Harley's board said it has launched a search process and Jochen Zeitz is expected to remain until a successor is named
Wis (CIVIC MEDIA) – After 5 years as CEO of Harley-Davidson
Jochen Zeitz will retire during the 2025 calendar year
is the leader of what analysts called a 5-year sales ‘turn-around”.
Harley’s shares are up more than 11% through Monday’s close since Zeitz took charge in 2020
compared with a 77% rise in the benchmark S&P index
Zeitz joined Harley-Davidson in 2007 and was elevated to CEO in 2020
He previously turned around the German shoe brand PUMA
pulling it back from the brink of bankruptcy
Harley forecast 2025 profit and motorcycle revenue to be flat to down 5%
Zeitz launched the “Hardwire” strategy in 2021, an attempt to turn around the storied motorcycle maker by connecting with younger riders.
Harley-Davidson was formed in 1903 in Milwaukee by William S. Harley and Arthur Davidson.
Harley-Davidson is one of two major American motorcycle manufacturers to survive the Great Depression, along with The Indian Motorcycle Company.
Harley’s board said it has launched a search process and Jochen Zeitz is expected to remain until a successor is named.
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MILWAUKEE — Harley-Davidson CEO Jochen Zeitz will retire in 2025
The company said it's actively searching for a replacement and that until a successor is found
Officials said the search process began in the fourth quarter of 2024 after Zietz said he was interested in retirement
Zietz’s history with Harley-Davidson dates back to 2007
when he became a member of the Board of Directors
He also served as Chair for the Harley-Davidson’s Sustainability Committee since it began in 2011
the company noted Zeitz’s creation of Hardwire
a five-year strategic plan that reinvigorated the brand.
A DEALERSHIP owner has blasted Harley-Davidson’s CEO as he prepares to exit the company
The House of Harley-Davidson owner is celebrating CEO Jochen Zeitz's resignation as the iconic motorcycle company faces an uncertain future
Harley-Davidson is undergoing major changes as Zeitz steps down after five years of running the company
He said he'll stay on until a replacement has been found
Dealership owners are celebrating the CEO’s retirement as they welcome a new chapter, local Fox affiliate WITI reported
"If you wanted to know the number of Harley dealers who are happy that a new CEO is coming in
the number is all of them," said Jeff Binkert
president of the House of Harley-Davidson dealership
Binkert blamed Zeitz's push for the company’s “Hardwire” program, which allows customers to buy motorcycles online, for dealers’ loss.
"What got really out of control is the constant push to sell products online – against the dealers," he said.
"You know, if you can buy a T-shirt online, and it’s shipped for free, why would you come to the store?"
"I think it’s going to be a great new era,” he said
Binkert’s opinions on Zeitz's cultural changes were echoed by board member Jared Dourdeville
In a letter announcing his resignation from the 122-year-old company
Dourdeville blasted Harley-Davidson’s CEO for the company’s underperformance and “cultural depletion.”
Dourdeville wrote that he is most concerned about the company’s long-term trajectory
He cited Harley-Davidson’s change in culture
and management's unwillingness to put the company first
“These concerns have increased exponentially in recent quarters,” Dourdeville wrote
The board member said these issues “start at the top,” blaming Zeitz for Harley-Davidson’s shortcomings
“So much of what makes Harley-Davidson special is the opportunity to build community for employees
and fans of the brand worldwide,” Dourdeville wrote
“Today the community that Harley-Davidson seeks to build has been decimated at the corporate level
and the extent of the cultural depletion has become more glaring in recent months.”
The board member said he remains optimistic about a future where employees
Harley-Davidson Inc.'s second-largest investor has urged shareholders to remove three directors from the board and to fire CEO Jochen Zeitz
holding them accountable for Harley's lackluster performance in recent years
says it intends to run a "withhold-the-vote-campaign" against Zeitz
Levinson should be held accountable for the destruction of shareholder value," the New York investment firm said in a statement
Earlier, H Partners' Jared Dourdeville resigned from Harley's board
poor leadership and cultural depletion at the 122-year-old Milwaukee-based motorcycle manufacturer
Dourdeville said he had "grave concerns" about the state of Harley-Davidson and its long-term outlook. He said he submitted his resignation when no meaningful progress was made, although Zeitz has since announced his retirement as CEO effective sometime this year
“While I am concerned about this severe underperformance
what I am most concerned about are the foundational building blocks that underpin any company’s long-term trajectory: culture
and the willingness of the Board and management to put the Company first
These concerns have increased exponentially in recent quarters,” Dourdeville wrote in his resignation letter
Dourdeville was not a dissenting voice in the boardroom as to matters he raised in his letter."
The company is in the final year of a five-year strategic plan
Dourdeville did not voice concerns in the boardroom over the plan and confirmed that elements of it were “central to his investment thesis
senior members of the company's leadership
and individual board members in 2024 about the company's declining sales and fallen share price
Harley-Davidson Inc.’s shares have underperformed the S&P 500 and the S&P 400 Consumer Discretionary Index by 104% and 108% respectively
This equates to an approximately $1.8 billion decline in Harley-Davidson’s market value
"We are deeply concerned by the Board's unwillingness to date to hold the Company's Chairman and Chief Executive Officer
accountable for his repeated strategic execution failures
and alienation of the Company's key stakeholders
including both dealers and customers," H Partners said
"Also deeply concerning to us is that Chairman Zeitz and two of the Company's longest tenured directors
Presiding Director Norman Thomas Linebarger and Sara Levinson
appear to be entrenched and exerting undue influence over the Board."
Harley has grievances against DourdevilleIn the final three months of 2024
Zeitz expressed his interest in retiring from the company in 2025
the final year of the Hardwire strategic plan
and subject to the appointment of a suitable successor
three candidates were advanced to final consideration by the board of directors
including the one supported by Dourdeville
“Immediately after his candidate wasn’t selected
Dourdeville wrote to the Company abruptly attacking his fellow Directors and the Board process in which he fully participated
His attack demanded the immediate resignation of several Directors
all of which he had supported as Directors
by voting in favor of their re-nomination at the Company’s February Board meeting
for election at the Company’s 2025 annual meeting of shareholders,” Harley-Davidson said
by airing the Board’s confidential search and publicly campaigning against the Company
Dourdeville is also adversely impacting the CEO search process
and ongoing execution of the Hardwire strategic plan
putting shareholders’ interests at risk,” the company said
Harley-Davidson settled a boardroom challenge from Impala Asset Management
Impala withdrew its notice to nominate two candidates to the board at the 2020 shareholders meeting
to submit two names for consideration for an extra board seat
The $2.8 billion hedge fund was critical of Harley's management for losing market share
and of the board for not responding quickly enough to a declining stock price
It had also pushed for the firing of Levatich
Harley-Davidson's annual shareholder meeting and proxy vote is scheduled for May 14
The company's bylaws require any director who does not receive more than 50% of votes in an election to submit their resignation
This story has been updated with additional information
Harley-Davidson Inc. CEO Jochen Zeitz is retiring after five years with the Milwaukee-based motorcycle manufacturer
The search process was initiated in the fourth quarter of 2024 after Zeitz expressed interest in retiring in 2025
Zeitz for his many significant contributions to the Company as CEO," the statement said
the Company's five-year strategic plan (2021-2025)
and his leadership during one of the most challenging operating environments in the history of the Company," it said
Zeitz was known for being a turnaround expert
In the 1990s he transformed near-bankrupt Puma SE into one of the world’s leading sports brands
He had been a Harley-Davidson board member since 2007
which gave him insight into the company’s operations
Zeitz took the helm at Harley-Davidson in an especially difficult time
A month after Zeitz was named interim chief executive officer, replacing Levatich, Harley suspended production at its U.S
factories after a Wisconsin employee tested positive for the coronavirus
The company’s global supply chain was broken by the pandemic and material costs soared
Bikes couldn't be built until essential computer chips arrived from Asia
“We didn’t know when the factory would be opening again…We had to find a couple of billion dollars to make sure that things could stay afloat,” he recalled in a Milwaukee Journal Sentinel interview two years ago
But trouble was never far from his doorstep
the European Union threatened a 56% tariff on U.S.-made motorcycles and other products including Kentucky bourbon and peanut butter
It was retaliation for tariffs the United States imposed on EU steel and aluminum
and the 56% tariff would have effectively closed it to the company
President Donald Trump has targeted Thailand with a steep tariff
a move which could raise prices of Harley-Davidson motorcycles manufactured there
Harley opened a plant in Thailand in late 2018
Last summer, Harley confirmed it was moving more motorcycle production to Thailand, angering the union workforce in Wisconsin and Pennsylvania
"The industry has faced many challenges over the past couple of years
but we believe we are best positioned to take advantage of any uptick in consumption," Zeitz said in a statement
The company had $688 million in revenue in the recent quarter
31 as American consumers struggled with inflation
and less appetite for discretionary spending
Harley said it had a profit of $455 million
Sales of its most expensive touring bikes and trikes were up 8% in North America
Zeitz, 65, grew up in Germany and went to school in Germany
He's a graduate of the European Business School in International Marketing and Finance
He's been riding motorcycles since he was a teenager
"I always had that dream of one day I would be able to afford a Harley
and that became a reality when I was in my 30s," he said in the 2023 Journal Sentinel interview
This story was updated with new information
and a slew of other challenges over 122 years
the company faces a leadership crisis in another period of global economic turmoil
Some also say Harley has lost a certain magic which few other brands possess without having their name tattooed on someone's body or rallies drawing thousands of customers
The company needs to reclaim its "lightning in a bottle," says Chaz Hastings
a former Harley-Davidson manager who later owned a dealership on Milwaukee's north side
cited "cultural depletion" and fallen profits in its demand that CEO Jochen Zeitz resign
and that board members Tom Linebarger and Sara Levinson not be reelected at the May 14 annual shareholders meeting
“The company’s iconic headquarters has been shuttered
and its corporate culture has been depleted by a remote work environment,” H Partners said
“Even more demoralizing for employees — especially for a manufacturing company — is that CEO Zeitz appears to be attempting to oversee the company from locations in Santa Fe
Zeitz’s physical presence at any Harley-Davidson office or facility has been extremely minimal for some time,” H Partners said
Zeitz has worked to save African rhinosZeitz
the former chief executive of sporting-goods company Puma
Levatich resigned when a continued decline in Harley's stock price and sales proved too much for him to continue running the company after five years as the chief executive
“The Board and Matt mutually agreed that now is the time for new leadership at Harley-Davidson,” Zeitz
said at the time of Levatich's resignation
He stepped in as interim CEO and soon after was named to the permanent position
Zeitz's compensation included a $1.95 million base salary
Zeitz has been effectively guaranteed to earn an average of $8 million per year – or over $40 million in total
excluding any compensation to be paid in 2025 – while shareholders have lost $1.8 billion under his tenure," H Partners said in a recent statement
Zeitz is a philanthropist and conservationist in Kenya
the ZEITZ Foundation has sought to return critically endangered rhinos to their ancestral natural habitats
"Our plan is to remove boundaries and connect large landscapes together, preserving wildlife corridors to create a huge interconnected rhino habitat," the foundation says on its website
The foundation helped create medical camps in parts of rural Kenya lacking access to health care
It's supported Kenyan students seeking a high school education and started a kindergarten program
The kindergarten offers working mothers in the SATUBO Beading Initiative "access to safe
The foundation created what's now an independent U.K.-registered charity called The Long Run -- a membership organization of nature-based tourism businesses committed to sustainability and pursuit of the ZEITZ mission internationally
"The Long Run now safeguards over 21 million acres of biodiversity and touches the lives of 750,000 people," the foundation says
through its Tree of Life Reforestation project
which would be East Africa's largest reforestation on a private conservancy
"Segera's exclusively private 50 000 acres are home to lion, leopard, cheetah, elephant and buffalo as well as endangered species such as reticulated giraffe, Grevy's zebra, Lelwel's Hartebeest and African wild dog," its website says
The Segera resort says it's an “oasis of luxury in 50,000 acres of private Kenyan savannah with views towards iconic Mount Kenya.”
Old letters and photos of Ernest Hemingway adorn the resort's walls, and the famous biplane from the movie Out of Africa is there, too, the German publication GG Magazine said in 2021
restored it and now flies it around the estate
Harley-Davidson has not responded to recent Journal Sentinel requests for an interview with Zeitz
he briefly discussed his passion for nature and environmental sustainability
has restored a "big chunk of this planet to where nature and animals can thrive."
Zeitz has divided his time between Milwaukee
was featured in an article in Condé Nast Traveler magazine
The magazine said Zeitz spent "two-plus years meticulously transforming the ranch into a kind of Spanish colonial village out of a set designer's fever dream
much of it redone in authentic adobe style with troweled plaster walls and vaulted brick ceilings."
which doubled down on the company's core products: touring bikes
He made changes in senior leadership and focused on rebuilding the brand
Critics said the plan wasn't well executed and that total shipments of touring
cruiser and trike shipments have declined 20% since Zeitz became CEO
Zeitz’s senior leadership team has been a revolving door
It is alarming to note that five of the six senior managers who publicly presented this Hardwire plan at the Company’s 2022 Investor Day are either no longer working for the Company or have already announced their retirement," H Partners said
The firm, which has a 9.1% stake in Harley-Davidson, says it intends to run a "withhold-the-vote-campaign" against Zeitz
and longtime board members Linebarger and Levinson
It has also called for Zeitz's immediate resignation as chief executive officer
"We believe an absentee CEO who has already announced his intention to retire should not be making policy decisions that could affect the long-term prospects of the business
which is tightly controlled by a small number of entrenched Board members
cannot be trusted to oversee crucial decisions
including CEO succession," H Partners said
will stay on as CEO until his successor is named sometime this year
The company has strongly opposed H Partners efforts to oust Linebarger and Levinson from the board of directors
"We are disappointed that H Partners has chosen to take this self-serving action targeting members of our Board after that firm’s preferred CEO candidate failed to receive majority support from the Board’s Independent Directors," Harley-Davidson said
"H Partners has had a voice inside the Harley-Davidson Boardroom through one of its executives sitting on the board for the past three years
supported the current CEO and voted in favor of all current Directors standing for re-election
After H Partners' preferred CEO candidate failed to earn Board support
rather than engage constructively with the Board
H Partners disclosed Board confidential information and resorted to a misleading campaign that we believe is destructive to the interests of all shareholders," a Harley spokesperson said in an email to the Journal Sentinel
"It also shows that H Partners cannot be trusted to appoint effective directors accountable to all shareholders," the email said
In a new Securities and Exchange Commission filing this week
the company said it has made significant progress in executing key elements of the Hardwire strategic plan
Harley said it achieved $257 million in productivity savings
(2022-2024) that's expected to reach $457 million by 2026
returned to growth in 2021 and had 74.5% market share in the category in 2024
the company said the performance of its Harley-Davidson Financial Services division
which provides consumer financing for bikes and is an important sales tool for dealerships
hit an all-time high during the Hardwire strategic plan
H Partners says the dealership network has been demoralized over the last five years
“Dealers have suffered a significant decline in profitability
with dozens of dealers being forced to close their doors after decades in business
Dealer sentiment is near a decade-long low; and a large association of dealers submitted a letter effectively calling for Zeitz’s resignation,” H Partners said
dealers would have "crawled through glass" for the company
said former Harley executive Sean Cummings
But "sadly that is currently not the case," he said in an open letter to the company made public this week
dealers and many riders feel a great sense of sadness in the current state of the business while remaining steadfast in their commitment to the brand," Cummings said
Morningstar analyst Jaime Katz recently said it was time for Zeitz to leave Harley-Davidson
“We think a change in leadership is overdue
given that shares have risen a mere 11% since Zeitz officially took the helm in May 2020
significantly trailing the Morningstar Global Markets Index’s 69% ascent,” Katz said in a research note
It could be "well into 2026 until the next CEO articulates plans to reinvigorate the business and stem further declines,” Katz wrote
owner of the House of Harley-Davidson motorcycle dealership in Milwaukee
said he wishes Zeitz well but that it’s time for some changes at the company
“There seems to be a genuine lack of partnership and respect toward the dealerships that invest their own money in facilities and promotional activities,” he said
Harley dealerships have complained of being saddled with excessive motorcycle inventory and related discounting
the company has competed against them by selling parts
sometimes at discounted prices and with free shipping
“We have a great experienced dealer network in the United States
and our customers really love stopping at all the dealerships when they’re out on the road," Binkert said
"Why would you want to compete with that and impact the resources they need to deliver a great experience?"
a longtime Harley enthusiast from Burlington
said he’d like to see the company select a CEO who's passionate about the brand and young enough to relate to younger riders
“I think that new school can blend with old school and have harmony," Palmatier said
The next CEO must find a way for the company to survive in Europe
“Harley dealers here face the huge challenge of Trump‘s tariff war
getting as many over from the US as possible
but eventually the bikes will become more expensive and harder to sell,” she said
the former Harley corporate employee who went on to own Milwaukee Harley-Davidson before selling the dealership in 2016
Teerlink was with Harley-Davidson for 18 years
He started only a few months after a group of 13 Harley managers acquired the company from its then corporate parent
He established the Harley Owners Group (HOG) which now has chapters around the world
Hastings would like to see the company regain the edginess it had 20 years ago
His dealership hosted wild parties which attracted thousands
The R-rated entertainment included pole dancers
Hastings said the company needs to restore the connection with its core customers who have supported the brand for decades
"I truly hope they give them what they want
Harley-Davidson is a manufacturing company with heart and soul like no other," Hastings said
This article has been updated with additional information from Harley-Davidson
investor has urged the ousting of three Harley board members and the firing of CEO Jochen Zeitz
says it supports investor H Partners Management in what’s become a proxy fight for control of Harley-Davidson
"As long-term Harley-Davidson shareholders and customers
we have watched in dismay as the Company has drastically strayed from the core tenets that made it a true and lasting American icon,” Purple Chip said Tuesday
More: Georgia fund manager, and biker, says new leadership is needed at Harley-Davidson Inc.
Purple Chip is an investment management firm which says it has a "value-oriented investment strategy and long-term approach to investing."
The firm says it has around 1% of Harley's shares
Purple Chip has joined H Partners in its bid to fire Zeitz as CEO and not reelect board members Zeitz
and Sara Levinson at the May 14 annual shareholders meeting
More: Harley-Davidson's boardroom dispute marked by claims and counter claims. What to know.
Harley-Davidson has lost nearly $2 billion in market value in the last five years
Purple Chip and H Partners say Harley-Davidson’s corporate culture has been decimated by management’s poor decisions
“Harley Davidson deserves a board of directors that recognizes what makes the Company special and that treats their dealers like the partners
Without financially successful dealerships
the community we are all proud to be a part of will fade and performance will continue to suffer,” Purple Chip says
the Company must acknowledge that the electric Livewire line of bikes was horribly misguided and should be discontinued … the Company needs to refocus its efforts on attracting the next generation of Harley riders
and bringing back the iconic Sportster 883 as an entry level motorcycle,” it said
Harley-Davidson has urged shareholders to reelect Linebarger
Levinson and Zeitz along with six other board members
Zeitz said he would retire as CEO sometime this year
The company says its five-year strategic plan
has realized $257 million in productivity savings
“Each of our Directors brings experience crucial to the execution of the Hardwire plan and holds management accountable for performance," Harley-Davidson said in a recent letter to shareholders
"H Partners’ actions jeopardize the continued success of the Hardwire plan
and we believe expose your investment to unnecessary and undue risk,” the company said
the company has said the performance of its Harley-Davidson Financial Services division
Harley-Davidson took further aim at H Partners’ claims
saying the investor’s campaign “is simply a reaction” to Harley’s board deciding not to offer the CEO position to H Partners’ preferred candidate
“H Partners seeks to advance their interests to the detriment of all shareholders by trying to remove one-third of the Board
mounting a pressure campaign to cause the Board to add two unnamed and non-shareholder elected directors
and then having the ‘reconstituted Board’ select the new CEO," Harley-Davidson said
The company said 120 candidates were identified by an executive search firm as possible choices to succeed Zeitz and that 36 of them were contacted and assessed by the firm
Six were interviewed by the CEO search committee
The company denied H Partners’ claims that Zeitz has been an ineffective
and that Harley's product lineup is lacking
More: Critics say Harley-Davidson needs a more attentive CEO to put the company on a new path
Zeitz is a highly active and effective CEO who has created significant value and prioritized engagement with our global customer
dealer and employee base and was fully supported by H Partners for the past three years,” Harley said
it had not heard criticisms from Purple Chip
founded and run by investor Jason Dickerson
“Harley-Davidson actively engages with and maintains an open dialogue with our shareholders
but today is the first time we have heard from this individual
The Board of Directors remains focused on overseeing the execution of the Hardwire strategic plan
leading a rigorous and comprehensive CEO search process and driving value for all shareholders," a Harley spokesperson said in an email to the Journal Sentinel
This article has been updated with new information
leveling serious accusations against CEO Jochen Zeitz and other leaders amid ongoing financial challenges for the motorcycle manufacturer
What Happened: Jared Dourdeville of New York investment firm H Partners, which holds 9.1% of Harley’s stock according to a 13D form filed with the U.S. Securities and Exchange Commission, submitted his resignation in a letter dated Saturday
Dourdeville had called for the immediate resignation of Zeitz
along with directors Sara Levinson and Tom Linebarger
Dourdeville accused company leadership of decisions that damaged the iconic brand
citing “cultural depletion” from extensive white-collar work-from-home policies and the departure of many senior leaders
The company announced Tuesday that Zeitz plans to retire as CEO but will remain in the position until a successor is chosen
See Also: US Futures Edge Higher, Nikkei Surges 8% As Trump’s 90-Day Tariff Pause Triggers Historic Rally, Analyst Warns ‘We’re Not Out Of The Woods Yet’
Harley’s newly launched touring models have also boosted its U.S
market share to 74.5% in the touring segment for fiscal 2024
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Harley-Davidson has a consensus price target of $35.18 from 11 analysts
after President Donald Trump announced a pause on wide-ranging tariffs
Harley-Davidson stock may lag on momentum, but it outperforms key rivals Polaris Inc. PII and its former electric division LiveWire Group Inc. LVWR, according to Benzinga Edge Stock Ranking. HOG also maintains a stronger valuation score. Sign up to learn more
Check out more of Benzinga’s Future Of Mobility coverage by following this link.
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A company with as much legacy as Harley-Davidson has to be a cool place to work
and substance propelling you forward in a way that few other companies do
And there's a reason why so many of the Motor Co's employees have Harley-Davidson crest tattoos: it's because they truly love the brand
Leading a company like Harley-Davidson has to be a mixed bag
but the lows are in the press everywhere and all being squarely blamed on your direction
has announced that he'll be retiring from the position later this year
A move that's not at all surprising if you've been paying attention to the brand over the last year or so
Zeitz had been on Harley-Davidson's board since the late aughts and took over the brand as CEO in 2020—a perfect time if there ever was one..
both thanks to the pandemic—in terms of manufacturing motorcycles and parts supplies—as well as trade wars that caused high tariffs to be levied on the Motor Co's overseas offerings
the economic outlooks on many Americans took a downturn after pandemic spending dried up
And Harley's reticence in introducing its cheaper and smaller Hero motorcycles here in the States furthered the company's flagging sales
But the faux controversy caused enough of a headache that the stock price took a tumble
it's no wonder why Zeitz is peacing out right now
"The Board of Directors of Harley-Davidson
today confirmed that it is engaged in an on-going CEO search process
as part of the Board's succession planning responsibilities
The search process was initiated in Q4 2024 with the retention of a leading executive search firm after Jochen Zeitz
expressed his interest in retiring from the Company in 2025 after five years in the CEO position
and subject to the appointment of a suitable successor."
they have a lot of history they can use as motivation
Here's the Electric Motorcycle Harley-Davidson Should Build
This Retro-Styled Electric Motorcycle Looks Like a Fun and Practical Daily Ride
Suzuki Really Wants You To Test Ride the New DR-Z4S
Before You Buy a New Harley-Davidson Softail
HARLEY-DAVIDSON has been under immense pressure as its investors look to make sweeping changes to the company
Top company executives have been put on the chopping block after the brand struggled to bring in business last year
Harley-Davidson investors have pressured the company's shareholders to make significant leadership changes ahead of an uncertain auto industry
Much of the brand's executive board is under scrutiny
Investors have blamed Harley-Davidson's declining sales and falling stock price on poor leadership decisions
The company's second-largest investors, H Partners, have called on Zeitz to step aside as CEO after he's held the position for five years, as reported by Reuters
Currently, H Partners holds a 9.1% stake in Harley-Davidson, with considerable influence over the brand.
Namely, the investors are looking to axe Zeitz as well as board members Norman Thomas and Sara Levinson, as reported by Reuters.
"We believe Mr. Zeitz, Mr. Linebarger, and Ms. Levinson should be held accountable for the destruction of shareholder value," H partners said in a statement.
A company's share price refers to the amount it would cost to buy one share in a company and usually fluctuates according to market conditions
It will likely increase if the company is perceived to be doing well
or fall if the company isn't meeting expectations
Among the leadership chaos, dealership owners celebrated Harley's CEO stepping down
"[Zeitz hasn’t] connected with the customers and the dealers in general
The dealership owner said under Zeitz's leadership, consumers have opted to purchase bikes online rather than shopping in person
"What got really out of control is the constant push to sell products online – against the dealers," he said
the brand has tried to appeal to a wider audience with flashy new merchandise and discounted items
In March, the motorcycle company launched a youthful new clothing line collaboration with a popular workwear brand
The Harley-Davidson-Dickies "Born to be Alive" drop featured 17 unique pieces to choose from — ranging from quilted jackets to trucker caps
"Life is for the living. A full life is not promised to us—it’s reserved for the daring few who are willing to risk their comfort to explore the unknown," as stated on the Harley-Davidson website
"The collection features Americana graphics and classic workwear silhouettes that combine legendary quality with bold designs inspired by a rebellious spirit."
Consumers have already sold out many of the pieces in the "Born to be Alive" clothing line
These are two of Harley's attempts to drive sales and get customers excited about the motorcycle company
When news broke this week that Jochen Zeitz announced plans to retire as Chief Executive Officer of Harley-Davidson
Harley-Davidson said Zeitz made the board aware of his intent to retire during the fourth quarter of 2024
so it was curious that the company made public its plans to find a successor well into the first quarter of 2025
The company also sent out notice last week for the annual shareholders meeting on May 14
The itinerary for that meeting includes the election of ten directors to its Board of Directors (an increase from its current nine members)
the Board of Directors “unanimously recommends” a vote in favor of the nominees
including all nine incumbents and prospective newcomer Lori Flees (the current CEO of Valvoline)
Zeitz was one of the incumbents the board recommended be re-elected
We now have an idea as to why Harley-Davidson went public with Zeitz’s planned retirement this week
as board member Jared Dourdeville has tendered his resignation
submitting a letter that criticized many aspects of the company
Dourdeville tendered his resignation four days after submitting another letter that called for the resignation of Zeitz and board members Tom Linebarger and Sara Levinson
The other shoe (probably a Puma?) has dropped
There’s a lot to unpack (and much more that has been redacted) from the letter
H Partners has responded to Harley-Davidson, initiating a campaign for shareholders to vote against re-electing Zeitz
That Harley-Davidson has been struggling for some time now is no surprise
While it’s unclear what metrics Dourdeville is using in this chart
or who the “self reported peer group” represents
these figures appear to fit the overall trend of the company during Linebarger’s and Zeitz’s tenures
Dourdeville criticized the company’s work from home policies and its effect on company culture
He says he was skeptical of the work from home philosophy
Dourdeville said he was somewhat reassured with the early constraints of COVID and Zeitz’s experience running Puma from a satellite office in Boston and not the company’s headquarters in Germany
He also noted a lot of turnover in senior leadership roles during the last five years having an effect on culture
but his main criticism seems to focus on white-collar workers not having an in-person presence
Harley-Davidson lacks a winning culture,” Dourdeville writes
“This is particularly unfortunate for the Company’s hard-working employees
whose passion and persistence defines Harley-Davidson
I unfortunately do not see any way to perpetuate the Harley-Davidson culture and community.”
Dourdeville states he had been concerned over the last nine months about the company’s accountability and transparency about product and commercial execution
We know that last issue is a particular lightning rod
and it’s not clear where Dourdeville stands on the issue
except that he believes the company’s response was grossly mismanaged
something people on both sides have argued
Dealer profitability has been a well publicized issue
with many retailers having higher inventory levels which cause a financial strain to them
even if it makes Harley-Davidson’s numbers look better
Dourdeville states his support for Zeitz’s focus on reinvesting in the touring and cruiser lines – which resulted in the recent updates to both platforms – but criticizes the plan’s execution for resulting in increasing dealer inventories from an average of 99 days of stock to more than 140 days’ worth
Dourdeville also echoed the criticisms over the lack of an entry-level product
Harley-Davidson rebutted some of the issues mentioned in Dourdeville’s resignation letter and provided a timeline of events
Dourdeville had been supportive of the company’s direction and leadership up until February 2025
This included participating in the search for a new CEO
which falls to the board’s Human Resources Committee which consists of chair Maryrose Sylvester
the board met with three potential CEO candidates
the board decided to extend an offer to any of the candidates
Dourdeville sent a letter to the board demanding the resignation of Levinson
Harley-Davidson filed a proxy statement recommending the “unanimous” reelection of all current directors
The board also responded to Dourdeville’s letter
proposing a meeting to discuss its contents
Harley-Davidson claims Dourdeville agreed to a meeting to be held April 7
but then submitted his resignation April 5
Based on this timeline (which is provided by Harley-Davidson and has not been corroborated by Dourdeville or anyone else)
we assume that Dourdeville was backing one of the candidates for CEO
and reacted negatively to the decision not to hire any of the candidates
The identities of the candidates remains a secret
Harley-Davidson also claims that Dourdeville never expressed concerns about its work from home policies during his time on the board
Harley-Davidson also claims that employee turnover in 2024 was the lowest in company history
and employee engagement surveys produced the highest results in 2024 since the surveys began in 2021
The company also points out Dourdeville should be aware of this as a member of the Human Resources Committee
and new small cruisers in subsequent years
Harley-Davidson also claims Dourdeville made misleading statements related to the Starbuck campaign (which
was nearly entirely redacted from his resignation letter)
and that dealer inventory concerns are not unique to the company in today’s market
and that Harley-Davidson is taking steps to address those concerns
Both sides make some valid arguments (and some with disputable holes)
falls somewhere in the middle of their different perspectives
What is clear is that this boardroom isn’t helpful
as Harley-Davidson’s stock value dropped 11% after news of Dourdeville’s resignation went public
I can't differentiate where the oil line is because of the lack of color contrast of the chrome dipstick and my clean oil
With a window I also don't drip the oil falling off the dipstick onto my bike and I don't need a paper towel
OK - some truths up front - I am a Japanese motorcycle dealer who has never owned a Harley and has always been looked down on by those who do
The harley guys rarely "speak" when we meet on the road riding our respective bikes
I am also a sixty something year old guy who has been riding motorcycles for over a half a century
Here is what I see when I read about harley's problem: The core harley guys do not like the technology that harley has embraced - technology that is a must if they are to meet emissions and other increasingly strict federal laws
These same laws ended air cooling and carbs for their machines
These core guys are what made Harley Davidson successful
The younger demographic wants noting to do with the old school harley - they want the new tech in a new package
My father used to quip "dance with the one what brung ya".
carbs and a straight unmuffled exhaust has long been over..
2024undefined minsShareJochen ZeitzHarley-Davidson CEO Jochen Zeitz
has relentlessly put sustainability at the heart of his business and personal livesHe was the youngest CEO in German history when he headed Puma at age 30
After 18 years of leadership that saw its share price soar by 4,000%
Jochen Zeitz moved to the luxury goods company Kering
With such a glittering career of leadership at three glamorous global companies
he could be forgiven for focussing solely on profit and loss
But Jochen is about so much more than that
While he is an immensely successful leader who drives transformation and profitability
And that does not mean just talking sustainability: he walks it
His career started with Colgate-Palmolive in New York and Hamburg before he joined sportswear giant Puma in 1990
His ascent was meteoric: three years later Jochen was appointed Chairman and CEO
With Puma in financial difficulties, it was a monumental job. However, he led the company’s global restructuring, drove through a long-term development plan and oversaw the aforementioned 4,000% increase in share value to an all-time high when the majority stake of the company was acquired by Kering in 2007
Puma was by then one of the world’s top three sporting goods firms – and Jochen’s star was in the ascendent
Kering recognised this and got him on its Board
no major business can operate without having at least an eye on ESG
when Jochen put it at the centre of Puma’s work
an ethical framework defined by the four key principles of being fair
positive and creative as applied to all professional behaviour
business procedures and relationships throughout and outside of Puma
He also pioneered the concept of an Environmental Profit & Loss Account (EP & L)
making it the beating heart of Puma’s work from May 2011
EP&L puts a monetary value to a business’s use of ecosystem services across the entire supply chain
He said: “We needed to start looking deeper into our supply chain – to better understand and determine our impact on nature and society and how sustainable we were throughout the supply chain."
From 2010 to 2012, Jochen was CEO of the Sport & Lifestyle division, which included Puma and Volcom
then a Director of Kering and Chairman of the Board's sustainable development committee
While he was determinedly driving sustainability professionally
Jochen was looking beyond his own office to disseminate the message to the broader business community
In 2014, he co-founded The B Team with Sir Richard Branson
The initiative brings together the world's top business leaders to promote socially and environmentally conscious business practices
He said: “I’m passionate about socially and environmentally conscious global business practices and co-founded The B Team with Sir Richard Branson to bring together the world’s top business leaders to help others find a better way of doing business
prioritising the well-being of people and the planet
The idea of combining planet and profit in a business plan was initially radical
But Jochen’s vision and drive helped to embed it in the thinking of C-suite leaders and the reports of major companies
Jochen was using his influence beyond boardrooms
He served on the Board of the Kenya Wildlife Service (KWS) for three years
he founded the not-for-profit Zeitz Foundation for Intercultural Ecosphere Safety to support creative and innovative sustainable projects and solutions that balance conservation
It was designed to promote an inclusive approach to conservation that enhances livelihoods and fosters intercultural dialogue while building sustainable businesses
Jochen helps to preserve 50,000 acres of wildlife habitat in Kenya
support its local communities and provide a safe refuge for endangered wildlife
the Zeitz Foundation set up The Long Run – a membership organisation of nature-based tourism businesses that are committed to driving sustainability.
The Long Run has become the largest organisation of its kind worldwide
safeguarding over 21 million acres of nature in 22 countries
Zeitz is also Vice-President of Fauna and Flora International and a co-founder of the Zeitz Museum of Contemporary Art Africa
Jochen became interim CEO of Harley-Davidson in February 2020 and took over the job permanently in May 2020
He said: “As president and CEO of Harley-Davidson
my focus is leading an iconic company as the most desirable motorcycle brand in the world and delivering our mission and vision for riders and enthusiasts.”
which led to a new five-year strategic plan called The Hardwire
The Rewire included prioritising markets that matter and enhancing core strengths of the company while balancing expansion into new spaces
The Hardwire includes: a new pre-owned motorcycle programme; investment in the parts
riding gear and financial services segments of the business; and a new division focused exclusively on electric motorcycles
In the latest demonstration of the synthesis between planet and profits
To read the full story in the magazine click HERE
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Jochen Zeitz, the German businessman who took the helm of Harley-Davidson in May 2020
His tenure has been marked by ambitious restructuring efforts
and a recent controversy over a Taliban comparison that sparked public outrage.
Zeitz launched "The Hardwire," a five-year strategic plan aimed at revitalizing the iconic motorcycle brand
The initiative focused on high-margin products
scaling back in underperforming international markets
and modernizing the brand to appeal to younger consumers
Harley-Davidson has forecasted flat to declining profits and motorcycle revenue for 2025
citing reduced consumer spending on high-cost items
Harley-Davidson's second-largest shareholder with a 9% stake
initiated a campaign to oust Zeitz and two other directors from the board
The firm criticized the company's declining sales and stock performance
arguing that the current leadership has failed to preserve Harley's culture and appeal
Harley's stock has fallen 45% in the past year
reflecting its struggle to attract new riders
Related: Jochen Zeitz and The B Team: Redefining Business for People and Planet
Related: Alex Karp vs. Silicon Valley: A CEO at Odds with Tech Culture
Related: John Ternus: The Man Who Could Succeed Tim Cook as Apple CEO
Zeitz faced backlash for a controversial comparison involving the Taliban
he made remarks that were interpreted as equating certain business practices with the extremist group
The comments drew swift condemnation from the motorcycle community and beyond
with critics accusing Zeitz of undermining Harley-Davidson's image of American freedom and ruggedness
stating that his remarks were intended to critique traditional capitalism and not to draw a direct comparison to the Taliban
Zeitz's compensation has also come under scrutiny
his total compensation dropped 72% from the previous year's $43.3 million
which had been inflated by a nearly $32 million bonus tied to stock awards
The decline reflects the company's underperformance and the failure to meet certain share price thresholds
Zeitz is expected to remain in his role until a successor is appointed
His departure marks the end of a tumultuous chapter for the company
and the challenge of redefining its brand in a changing market
Harley-Davidson is more than a motorcycle brand—it’s an icon
But being a classic doesn’t guarantee survival in today’s cutthroat market
Younger riders are more likely to opt for the more affordable
tech-savvy and eco-conscious options on the market
leaving Harley Davidson fighting for new customers
and the company's future starts to look precarious
But if Harley-Davidson wants to remain more than a nostalgic brand or a collector’s badge
which won't happen among comments on the Taliban
MILWAUKEE – After five years of trying to revive an American motorcycle brand that’s struggling with plummeting sales
German-born Jochen Zeitz plans to retire as CEO of Harley-Davidson
The 62-year-old Zeitz will leave sometime in 2025
who formerly helped resuscitate German footware brand Puma
was tapped as CEO in 2020 having joined Harley-Davidson’s board in 2007
Harley-Davidson’s worldwide sales have dropped from 180,248 units in 2020 to 151,229 in 2024
Zeitz has reduced the company’s international footprint and trimmed dealerships in the U.S
while shifting Harley-Davidson’s focus to more expensive
It virtually eliminated affordable and entry-level models that would attract new and younger riders
Harley-Davidson’s board has begun a search process to find a successor for Zeitz
who will stay on until a successor is named
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Kouo’s appointment defies expectations that the Biennale’s hierarchy might follow a nationalist trend seen within some of Italy’s museums
The Cameroonian-Swiss museum director Koyo Kouoh has been appointed the curator of the 2026 Venice Biennale
making her the first African woman to organise the event
The 57-year-old, who grew up in both Cameroon and Switzerland, has been the executive director and chief curator of the Zeitz Museum of Contemporary Art Africa in Cape Town since 2019
She described the famous Venice festival as “the centre of gravity for art for over a century” and said that the art world converged “on this mythical site every two years to feel the pulse of the zeitgeist.” She continued: “It is a once-in-a-lifetime honour and privilege to follow in the footsteps of luminary predecessors in the role of artistic director
and to compose an exhibition that I hope will carry meaning for the world we currently live in—and most importantly
Artists are the visionaries and social scientists who allow us to reflect and project in ways afforded only to this line of work.”
Kouh was recommended by La Biennale’s president Pietrangelo Buttafuoco
the former leader of the youth wing of the neo-fascist Italian Social Movement party
is seen as an ideological ally of Italian prime minister Giorgia Meloni
Earlier this year Meloni’s right-wing government appointed ten new leaders of major museums around the country
with home grown applicants favoured over people from outside Italy
Of the appointment of Kouoh, Buttafuoco said it is “the acknowledgment of a broad horizon of vision at the dawn of a day profuse with new words and eyes. Her perspective as a curator, scholar, and influential public figure meets with the most refined, young, and disruptive intelligences. With her here in Venice, La Biennale confirms what it has offered the world for over a century: to be the home of the future.”
Previous exhibitions organised by Kouoh include Body Talk: Feminism, Sexuality and the Body in the Works of Six African Women Artists, first shown at Wiels in Brussels in 2015. She curated Still (the) Barbarians, at the Ireland Biennial in Limerick in 2016 and is the author of When We See Us: A Century of Black Figuration in Painting, which accompanied the eponymous show that opened at Zeitz MOCAA in November 2022.
news27 October 2023Italy appoints right-wing journalist as Venice Biennale presidentMembers of Italy’s ruling coalition have described the 128-year-old exhibition as a "fiefdom" of the left
news10 September 2020Wanted—curator of the British Pavilion at Venice Biennale (who will work for £12,500) Hong Kong-based data analytics chief Shane Akeroyd will sponsor the associate curator post for a ten-year period
archive30 April 2008Interview with Robert Storr, director of the 2007 Venice Biennale: "I would recommend dramatically increasing the number of national pavilions"In the second part of our interview with Storr
he considers the question of how to make the historic event truly representative of today’s global art world
As Harley-Davidson Inc’s May 14 annual shareholders meeting approaches
a corporate power struggle continues to define the agenda
has urged shareholders to withhold their votes for the reelection of board members Tom Linebarger
The investment firm has also called for Zeitz’s resignation as Harley-Davidson’s chief executive officer
saying that Harley has lost approximately $1.8 billion in market value in the five years he’s been running the company
“The underperformance of Harley-Davidson under Mr
Harley-Davidson says a transformation of the company is expected to deliver $457 million in productivity savings by 2026
The company strongly opposes H Partners’ campaign to oust Linebarger
“While the Company has not been able to achieve its financial ambitions given the extremely challenging market environment
it has delivered a better total shareholder return than all but one of its peers in the motorcycle and powersports industries,” Harley-Davidson says
Here are a few of the claims made in the boardroom fight which went public in early April with the resignation of H Partners representative
H Partners has launched a website called freetheeagle.com
Harley-Davidson has countered with its site, VoteHarleyDavidson.com
Harley shareholder says it has 'plan of action' for motorcycle makerIn an April 28 letter to shareholders
“We believe it is generally good governance to separate the roles of CEO and Chairman of the Board
Zeitz was installed as both CEO and Chairman prior to our representative joining the Board
We believe that the Board’s current structure has excessively consolidated power into the hands of Messrs
“We question whether the current Board is willing and able to make the difficult decisions necessary to hold management or itself accountable
and whether it will be able to recruit a world-class public-company leader.”
H Partners says it's developed a “potential plan of action” for Harley-Davidson’s next
given that Zeitz has said he’s retiring sometime this year
The plan includes rebuilding credibility with stakeholders
relaunching the company’s new touring and cruiser motorcycle products
evaluating the LiveWire electric motorcycle program
developing and bringing to market a viable entry-level motorcycle
The H Partners plan also calls for reopening Harley’s historic headquarters in Milwaukee
reinvigorating the company culture amongst employees
brand marketing focused on the emotional connection to Harley-Davidson
and rebuilding relationships with dealerships
Harley says its five-year Hardwire strategic plan is working and was carefully developed to address industry headwinds
“High financing costs are having a significant negative impact on motorcycle sales overall,” the company says
motorcycle (spending) increased for a short period as interest rates stabilized
recent industry data suggests that headwinds and uncertainty stemming from potential tariffs and declining consumer confidence may persist.”
“Each of our Directors brings experience crucial to the execution of the Hardwire plan and holds management accountable for performance
H Partners’ actions jeopardize the continued success of the Hardwire plan
and we believe expose your investment to unnecessary and undue risk,” the company said in a letter to shareholders
Sales of its iconic motorcycles declined 57% from 2006 through 2024
The company’s investors are now as rebellious as its counterculture customers used to be
It’s time for boss Jochen Zeitz to peel out of public markets
Higher interest rates make it pricey to buy choppers on credit
President Donald Trump’s trade war also has turned the archetypal American brand
representing freedom cruising the country’s open roads
Harley on Thursday joined a growing group of companies yanking financial guidance because of tariff turbulence
sought to boost revenue from accessories and rolled out electric Hogs
His efforts failed to overcome the obstacles
The company is worth almost 60% less than its post-pandemic peak
inviting a fresh round of restlessness from shareholder H Partners
Thomson ReutersHarley-Davidson has fallen behind the market
Following a dispute over who should replace Zeitz when he exits later this year
the hedge fund resigned the board seat it secured three years ago and urged fellow owners to withhold votes from three directors in May
but the campaign clears the way for a general expression of disapproval
H Partners is also helpfully amplifying Harley’s long to-do list. Its relationship with dealers has soured and the LiveWire LVWR electric subsidiary is struggling. Spun off in 2022 through a blank-check merger, its share price is down 84%. Harley owns an 89% stake.
One bright spot: Harley is forecast to throw off more than $500 million in free cash flow this year, according to Visible Alpha data. Wall Street also expects the division financing loans for customers to generate more than $200 million of operating income for years. Zeitz is considering capitalizing on that strength by selling part or all of the business.
Most of Harley’s nearly $7 billion in debt is tied up in these financial services. If separating the unit, with its borrowing, is practicable for a mooted $1 billion, as reported by Bloomberg, it would leave a net-cash enterprise worth roughly $1.5 billion after including the sale proceeds. Throw in a standard 30% premium, and a wealthy enthusiast could drive off with the ride preferred by Brad Pitt and Bruce Springsteen. If nothing else, Harley-Davidson would be a dazzling trophy asset.
Harley-Davidson on May 1 suspended its annual financial forecasts over tariff concerns while reporting that first-quarter operating income fell 39%, to $160 million, from a year earlier on a 23% decline in revenue.
H Partners, a 9.1% stakeholder in Harley, unveiled a campaign on April 16 urging shareholders to withhold their votes from three company board members at the annual meeting on May 14.
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Harley-Davidson (NYSE: HOG) has announced that its Board of Directors is conducting a CEO search process following current CEO Jochen Zeitz's expression of interest to retire in 2025
The search was initiated in Q4 2024 with a leading executive search firm
will remain in position until a suitable successor is appointed to ensure a smooth transition
The Board acknowledged his significant contributions
including the implementation of the Hardwire five-year strategic plan (2021-2025)
and leadership during challenging operational periods
Harley-Davidson maintains controlling interest in LiveWire Group
the first publicly traded all-electric motorcycle company in the US
focusing on urban adventure and electric mobility innovation
Harley-Davidson (NYSE: HOG) ha annunciato che il suo Consiglio di Amministrazione sta conducendo un processo di ricerca del CEO dopo che l'attuale CEO Jochen Zeitz ha espresso interesse a ritirarsi nel 2025
La ricerca è stata avviata nel quarto trimestre del 2024 con una rinomata società di ricerca di dirigenti
rimarrà in carica fino a quando non sarà nominato un successore idoneo per garantire una transizione fluida
Il Consiglio ha riconosciuto i suoi significativi contributi
inclusa l'implementazione del piano strategico quinquennale Hardwire (2021-2025)
il rilancio del marchio e la leadership durante periodi operativi difficili
Harley-Davidson detiene un interesse di controllo in LiveWire Group
la prima azienda di motociclette completamente elettriche quotata in borsa negli Stati Uniti
focalizzandosi sull'avventura urbana e sull'innovazione nella mobilità elettrica
Harley-Davidson (NYSE: HOG) ha anunciado que su Junta Directiva está llevando a cabo un proceso de búsqueda de CEO tras la expresión de interés del actual CEO Jochen Zeitz por retirarse en 2025
La búsqueda se inició en el cuarto trimestre de 2024 con una destacada firma de búsqueda de ejecutivos
quien habrá completado cinco años como CEO
permanecerá en su puesto hasta que se designe un sucesor adecuado para asegurar una transición fluida
La Junta reconoció sus importantes contribuciones
incluida la implementación del plan estratégico quinquenal Hardwire (2021-2025)
la revitalización de la marca y el liderazgo durante períodos operativos desafiantes
Harley-Davidson mantiene un interés de control en LiveWire Group
la primera empresa de motocicletas totalmente eléctricas que cotiza en bolsa en EE
enfocándose en la aventura urbana y la innovación en movilidad eléctrica
하늘-데이비슨 (NYSE: HOG)은 현재 CEO인 요헨 자이츠가 2025년에 은퇴 의사를 밝힘에 따라 이사회를 통해 CEO 검색 프로세스를 진행하고 있다고 발표했습니다
자이츠는 CEO로서 5년을 마치고 적절한 후임자가 임명될 때까지 자리에 남아 원활한 전환을 보장할 것입니다
브랜드 재활성화 및 어려운 운영 기간 동안의 리더십을 포함한 그의 중요한 기여를 인정했습니다
하늘-데이비슨은 미국에서 최초로 상장된 전기 오토바이 회사인 라이브와이어 그룹에 대한 지배적인 지분을 유지하고 있으며
Harley-Davidson (NYSE: HOG) a annoncé que son Conseil d'Administration mène un processus de recherche de CEO suite à l'expression d'intérêt de l'actuel CEO Jochen Zeitz pour prendre sa retraite en 2025
La recherche a été lancée au quatrième trimestre 2024 avec une entreprise de recherche de cadres de premier plan
restera en poste jusqu'à ce qu'un successeur approprié soit nommé pour garantir une transition en douceur
Le Conseil a reconnu ses contributions significatives
y compris la mise en œuvre du plan stratégique quinquennal Hardwire (2021-2025)
la revitalisation de la marque et le leadership durant des périodes opérationnelles difficiles
Harley-Davidson maintient un intérêt de contrôle dans LiveWire Group
la première entreprise de motos entièrement électriques cotée en bourse aux États-Unis
axée sur l'aventure urbaine et l'innovation en mobilité électrique
Harley-Davidson (NYSE: HOG) hat bekannt gegeben
dass der Vorstand einen CEO-Suchprozess einleitet
nachdem der derzeitige CEO Jochen Zeitz sein Interesse an einer Pensionierung im Jahr 2025 geäußert hat
Die Suche wurde im vierten Quartal 2024 mit einer führenden Personalberatung gestartet
der seine fünfjährige Amtszeit als CEO abgeschlossen haben wird
bis ein geeigneter Nachfolger ernannt wird
um einen reibungslosen Übergang zu gewährleisten
Der Vorstand erkannte seine bedeutenden Beiträge an
einschließlich der Umsetzung des Hardwire-Fünfjahresstrategiepapiers (2021-2025)
der Wiederbelebung der Marke und der Führung in herausfordernden Betriebszeiten
Harley-Davidson hält eine kontrollierende Beteiligung an LiveWire Group
dem ersten börsennotierten Elektro-Motorradunternehmen in den USA
das sich auf urbane Abenteuer und Innovationen in der Elektromobilität konzentriert
The announcement of CEO Jochen Zeitz's planned retirement and ongoing succession process represents a significant transition point for Harley-Davidson
This planned departure comes as Zeitz completes a five-year tenure marked by the implementation of the Hardwire strategic plan (2021-2025)
While leadership transitions always introduce some uncertainty
several factors mitigate immediate concerns
this appears to be a well-orchestrated succession plan rather than an abrupt departure - the search process began in Q4 2024 using a leading executive search firm
Zeitz will remain until a successor is appointed
enabling continuity and knowledge transfer
The timing aligns with the natural conclusion of the company's current strategic plan period
potentially allowing a new leader to shape the next phase of Harley's evolution
This is particularly relevant as the company navigates both its traditional motorcycle business and its stake in LiveWire
CEO transitions warrant close attention as they often signal strategic inflection points
The Board's public acknowledgment of Zeitz's contributions in "reinvigorating the brand" during "challenging operating environments" suggests they recognize the importance of maintaining momentum while preparing for leadership evolution
2025 /PRNewswire/ -- The Board of Directors of Harley-Davidson
(the "Company") (NYSE: HOG) today confirmed that it is engaged in an on-going CEO search process
Zeitz will remain as CEO until such successor is identified to ensure an orderly leadership transition
Zeitz for his many significant contributions to the Company as CEO
the creation and successful execution of the Hardwire
and his leadership during one of the most challenging operating environments in the history of the Company
View original content to download multimedia:https://www.prnewswire.com/news-releases/ceo-search-process-confirmed-302423270.html
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(HOG) is entering a period of transformation as CEO Jochen Zeitz prepares for his retirement
the company currently navigates a complex market environment
global motorcycle sales have decreased by 7% in 2023
and the stock has experienced a dramatic 47% decline over the last year
The collective opinion from 15 brokerage firms indicates that Harley-Davidson Inc (HOG, Financial) holds an average rating of 2.5
suggesting an "Outperform" status
where 1 represents a Strong Buy and 5 denotes a Sell
Gone are people picked up by ICE and shipped out without legally required due process
to a remote part of Cuba or to a prison in El Salvador
Never mind that the arrangement with El Salvador is illegal and cruel
Gone (fired) is the lawyer who admitted in court that one of those persons was mistakenly included
that the court order to return the group was disobeyed by President Donald Trump’s regime
Likely gone will be people vetted and admitted to the U.S
are the compassion and generosity of past generations and administrations
Gone are the guardrails of the first Trump administration: government workers refusing to sign illegal orders or to allow access to restricted databases
ethical lawyers admonishing Trump against illegal or unconstitutional actions
and military personnel explaining rules around the Insurrection Act
that Trump did not win in 2020 or that revenge is inappropriate
There’s seemingly no one to stop the executive orders that contradict the law or Constitution
There’s a legal reason so many lower courts rule against Trump’s orders
Gone is economic security for workers and farmers
the elimination of unions and functioning labor agreements
Gone are funds supporting infrastructure repairs
Surprised that Cabinet members were chosen for loyalty to Trump and not for their expertise
Case in point: the vaccine skeptic put in charge of health services
Apparently gone is government’s commitment to civil rights
Gone are checks and balances and separations of powers between the executive
resulting in losses to its critical watchdog role
as have too many law firms bowing to pressure put on them by Trump
Congress is complicit in the slide into authoritarianism
with Republicans — including Northeastern Minnesota’s Rep
Pete Stauber — ceding without complaint congressional powers guaranteed in the Constitution
Even the Supreme Court bears responsibility
having ruled that Trump would be protected from prosecution for any acts committed in his role as president; heretofore
We are facing a constitutional crisis: deadly for people and deadly for our democracy
(The government knowingly and falsely declaring immigrants dead could easily happen to citizens
I lived in Argentina during the first year of its military coup and dictatorship
There was no difference between military and local police; they were all culpable in the tortures
gifting of babies (born to incarcerated opponents) to their friends
and ultimately 24,000 to 30,000 deaths of those considered opponents of the military dictatorship
continuing the separation of local police from U.S
Trump continues to actively work to consolidate power in his office
seemingly committed to cruelty toward others and revenge on anyone who may have crossed him as they fulfilled their lawful job duties
I fear we’ll ultimately fall under a dictatorship hiding in plain sight
to say no and for institutions at all levels to support us and work to preserve our democracy
Eileen Zeitz Hudelson is a retired University of Minnesota Duluth professor and researcher
and a member of the Minnesota DFL Senior Caucus
Chief Executive Officer Jochen Zeitz plans to step down
wrapping a five-year tenure marked by challenges in the motorcycle market and halting diversity efforts inside the company
The board has retained an executive search firm as part of a succession process that began in late 2024
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Motorcycles on the showroom floor at a Harley-Davidson dealership in Louisville
escalating a feud that has spilled into the public eye in recent weeks
H Partners encouraged shareholders to vote out Presiding Director Thomas Linebarger and Sara Levinson
who has been on the board for almost three decades
has heated up with the resignation of a disgruntled director who harshly criticized the company
and Harley firing back saying he has messed with their CEO selection process
Here's what to know about the recent events involving the Milwaukee-based motorcycle maker
April 5, Jared Dourdeville resigned from the board
poor company performance and a lack of accountability by the directors and CEO Jochen Zeitz
he cited “grave concerns” about the state of the company and its long-term outlook
He called for the immediate resignation of Zeitz and longtime directors Sara Levinson and Norman Thomas Linebarger
These concerns have increased exponentially in recent quarters,” Dourdeville said in his letter
What's happening with Harley CEO Zeitz?April 8, Zeitz announced his retirement after five years with the company
Harley said he will stay on as CEO until the board of directors finds his replacement sometime this year
"Based on discussions with external parties and a review of social media
Zeitz spends far more time in New Mexico (where he has a ranch)
and rural Kenya than at the Company’s headquarters in Milwaukee
We believe that absentee leadership does not serve the Company
especially at this critical moment," H Partners said
What has Harley said about former board member Dourdeville?Harley-Davidson says Dourdeville
has interfered with the ongoing selection process for finding Zeitz's replacement
three candidates were advanced to final consideration by the board
including a candidate supported by Dourdeville
by voting in favor of their re-nomination,” Harley-Davidson said
H Partners launches a "withhold-the-vote" campaignHarley-Davidson's annual shareholder meeting and election of board members is scheduled for May 14
The meeting will be held virtually at www.shareholder,meeting.com/HOG2025
H Partners, with a 9.1% stake in Harley-Davidson, says it intends to run a "withhold-the-vote-campaign" against Zeitz
“We are disappointed that H Partners has chosen to take this self-serving action targeting members of our board after that firm’s preferred CEO candidate failed to receive majority support from the Board’s Independent Directors
H Partners has chosen to put its own interest ahead of the interests of other shareholders by attempting to disrupt the Board’s rigorous and thoughtful CEO transition process
creating uncertainty for and putting Harley-Davidson’s future and shareholder value at risk," Harley said
because any changes in bike models or manufacturing the company might pursue from changes in leadership would likely take a while
The macro economy and consumer spending are of greater concern
which represents motorcycle and parts and accessories sales
Motorcycle shipments were down 53% from the year-ago quarter
Harley is scheduled to report earnings for the first quarter of this year
The board has retained an executive search firm as part of a succession process that began in late 2024, when Zeitz expressed a desire to retire, according to a statementBloomberg Terminal Tuesday
He’ll remain as CEO until a replacement is identified
In 2013, Jochen Zeitz, then CEO of Puma, and Virgin Group founder Richard Branson launched The B Team—a nonprofit collective of global business and civil society leaders committed to transforming the way companies operate
Their mission: to shift from "Plan A"—business as usual focused solely on profit—to "Plan B," where companies prioritize sustainability
The B Team advocates for a new model of corporate leadership grounded in the triple bottom line: People
The B Team seeks to create a more equitable and sustainable global economy
The B Team has influenced corporate practices worldwide
companies like Unilever and Kering have ceased quarterly earnings reports to focus on long-term sustainability goals
The B Team also played a role in advocating for the 2015 Paris Climate Agreement
emphasizing the importance of legally binding commitments to combat climate change
Related: Harley Davidson's CEO in the Crosshairs: Investor Revolt and Taliban Remark Backlash
The B Team's work is supported by a diverse group of foundations and organizations, including the Ford Foundation, Laudes Foundation, and Ingka Group (IKEA's parent company)
These supporters provide both financial backing and strategic partnerships to advance The B Team's mission
The B Team comprises influential leaders from various sectors
Mary Robinson (Former President of Ireland)
As The B Team continues to challenge conventional business practices
it raises critical questions about the role of corporations in society
Is this a genuine effort to create a more sustainable and equitable world
The B Team's influence on global business discourse is undeniable.
One of the Island’s most prolific and talented artists
produces distinctive welded steel sculpture and fused glass panels
including the fused-glass trumpet vine wall that greets visitors
It is made up of panels of glass heated in a kiln to form a single piece
the Trumpet Vine Panel was originally built for a Brockton synagogue
It is now installed on a north wall of Zeitz’s studio
Visitors walk inside to a creative collection of tools
Much of Zeitz’s work is spiritual or religious
as with the magnificent sculpture in his workshop of a dragonfly; there are three other dragonfly sculptures on the wing in his garden outside
with surfaces that have been worked — some areas highly polished
His work includes an Immigrant Memorial near Plymouth Rock
and a study for the Berkshire South Community Center and at the Vietnam Era Memorial
A metal sculpture that Zeitz is especially proud of is of work he is doing for the Island’s African American Heritage Trail
Cultural Council — the sculpture of Rebecca
Zeitz also sculpted an African American Heritage trail marker of Nancy Michael
that is now installed at Edgartown Memorial Wharf
Zeitz spent four years working on “Prayer for Peace,” a work consisting of six stained glass windows in the Evangelische Pfarramt Fleiden church near Frankfurt
The church was a synagogue overrun during Kristallnacht
The windows have Hebrew notations on one side and German ones on the other
and a recognition of the Christian church today
Another powerful work is his metal cornerstone celebrating diversity at the government center in Fall River
Its inscription reads: “To the enduring memory of our ancestors: indigenous peoples
help build a more just and peaceful community.” It is the largest sculpture he’s created
he moved to the Vineyard as a young man of 21
and spends at least four hours a day hard at work
The MV Times comment policy requires first and last name for all comments
“I’m French only when they need bodies for bullets,” the soldier laments of a role that has been conveniently erased by Eurocentric historiography
Different narrative elements are screened simultaneously across the four screens creating an apt sense of disorientation
Set in contemporary Vietnam, most of the protagonist Habiba’s reflections occur around the Moroccan Gate, a monument in Hanoi’s Ba Vì district built by Moroccan defectors from the French army. The gate serves as a portal between Vietnam and Morocco
between the worlds of the living and the dead
and is also the focus of a speculative segment at the end of the film which warns of the contemporary environmental catastrophe humanity faces
The dual-screen emphasises the notion of two worlds and two perspectives
of identity unsettled — a double consciousness echo of WEB DuBois.
written because “no one living will listen”
It details her outlier status in both Vietnam and Morocco (where she attempted to settle for a while) and an exploration of her own identity—with its perceived missing parts—through trying to discover who her father was
“It's been 60 years and I still don't have a place to call home,” she says
This is an intimate familial desire for ancestral connection but meeting
In the room adjacent are accompanying works
a sculptural replica of the handmade sign on the Moroccan Gate
Letters from the Other Side consists of two embroidered tapestries which replicate the propaganda pamphlets the Việt Minh independence movement distributed to Tirailleurs during the First Indochina War to convince them to defect
Several hundred of the approximately 1,40,000 soldiers either surrendered or did defect according to recent news reports
who works in the family scrapyard in Quảng Trị
a demilitarised zone that split Vietnam between the north and south
Nguyệt believes she is the reincarnation of the sculptor Alexander Calder, has an extremely needy mother and collects scrap, including the shells of bombs from the Vietnam War involving the United States
his sight and two other cousins while exploring a land-mine and teaches children to avoid ending up like him — or worse
As 2000-pound bombs rain over Gaza and now Lebanon
Nguyen’s exploration of the lasting effects of war and its associated traumas are inescapable in 2024
Over 41,000 are reported dead in Gaza – families erased
Children are trapped and slowly dying under the rubble of devastated buildings
while others walk past every day searching for food or medical assistance
These are new acts of violence that Nguyen’s work demands we confront in the present — and repeat Lenin’s nagging question: What is to be done
Nguyễn’s work acknowledges the intergenerational nature of violence. It attempts to repair through the process of turning haunting into healing. This is most evident in how some of the bombshell casings gathered in the film have been remade as five Singing Bowls (2022): the audience is invited to play with these bowls set at different frequencies for different types of healing
The Other Side of Now successfully disentangles and highlights these messy
obscured and erased colonial histories through collaboration with communities and a subsequent reflection on the intimate and familial. In doing so
the exhibition also connects a city and a country with a violently racist past to a present where colonial and apartheid traumas still flourish unresolved
like the police massacre of 34 striking mineworkers in Marikana
in 2012 perpetrated and perpetuates the madnesses of previous regimes
It also connects South Africa to a world almost overwhelmed by environmental
political and economic conflicts — all of which have their roots in the colonial
(Disclaimer: The views and opinions expressed here are those of the author(s) and do not necessarily reflect the official position of STIR or its editors.)
Niren is an award-winning South African journalist and arts practitioner
Niren was the South African Arts Journalist of the Year in 2016 and the 2017 Ruth First Fellow
He has worked as a senior journalist for the Mail & Guardian and was a co-founder of the now defunct long-form magazine
His ongoing After Marikana slow-journalism project—started after the South African police massacre of 34 striking mineworkers at Marikana in 2012—explores intergenerational trauma and will result in two book publications
directed and co-curated the Marikana - Ten Years On exhibition and public engagement programme at the 2022 National Arts Festival in Makhanda and the ArtTalk 30/50 series at the festival’s 2024 edition
When a famed Indian artist used a protest poet’s words without credit
it raised a deeper question: who gets to speak
The veteran curator on the Sharjah Biennial 16 and collection-building as history-writing
This selling exhibition has been conceived as a collaboration between WWF
to further ocean conservation initiatives across the UK
A museum at Cambridge University examines Britain’s role in the transatlantic slave trade between 1750-1850
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by Niren Tolsi | Published on : Oct 22