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REWIRE COSTS CFO GIG

  • Dealernews
  • Jul 10, 2020

 

“The Rewire is progressing very well and substantial work is being done to eliminate complexity and get Harley-Davidson on a path to winning,” explains Jochen Zeitz, chairman, president and CEO of Harley-Davidson. “Our new operating model is simpler, more focused and enables faster decisions across the entire company.” As initially announced in the April shareholders session, the Rewire plan will cost The Motor Company approximately $42 million in restructuring in Q2 2020. Harley-Davidson says it will share a summary of Rewiring its Q2 results.

“We’ve taken a hard look at our entire set up, our spending, and how work is getting done, to align our operating model, structure and processes,”adds Zeitz. “We are building a strong foundation to drive a high-performance organization in the future.” One immediate cost was Chief Financial Officer John Olin’s gig. He has left his role, with current VP Treasurer, Darrell Thomas assuming duties as interim CFO until a successor is appointed.

“Significant changes are necessary, and we must move in new directions. I thank John for his commitment during his 17 years with the company and for his leadership during this critical phase of The Rewire,” Zeitz said. There are more cuts to come, according to Zeitz, including 700 fewer positions across the company’s global operations with approximately 500 employees expected to exit the organization through 2020.

 

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