Harley-Davidson makes acting CEO permanent as company shifts directions

Harley-Davidson’s acting chief executive officer will take over the job permanently as the company rewires its strategic plan and attempts to pull out of a five-year sales slump.

Jochen Zeitz, chairman of Harley-Davidson’s board and former CEO of sporting-goods manufacturer Puma, has been interim CEO at Harley since February, when Matt Levatich left following the company’s worst sales performance in at least 16 years.

“Over the next few months, we will rewire the business and define a new five-year strategic plan later this year,” Zeitz said in a statement Thursday. “I will then oversee the implementation of these changes and reignite Harley-Davidson as one of the most revered and iconic brands in the world.”

Zeitz will continue as board chairman, according to the company.

Businesses in peril: Popular buffet restaurant chain Souplantation to likely close all its restaurants

Can these 13 retailers survive?: Permanent store closings, bankruptcies coming amid coronavirus

In April, in his first call with investors, he revealed plans to cut costs and de-emphasize some of the company’s unprofitable international markets.

Also in April, Harley said its executive leadership would take a 30% pay cut and most U.S. salaried employees would take pay cuts of between 10% and 20%. The company implemented a hiring freeze and said there will be no merit pay increases this year.