Boardroom Circuit of KTM
KTM yearly 2024 revenue is down 29 percent as compared to 2023, and its earnings before interest, taxes, depreciation, and amortization (EBITDA) is apparently in the red to the tune of 300 million Euros. Pierer AG also notes on record that it’s cut around 1,800 employees so far.
Stefan Pierer, who has until now been CEO of both Pierer Mobility AG and KTM AG, is officially stepping down as CEO.
He will be replaced by Gottfried Neumeister. Back in October 2024, Pierer Mobility AG announced that it was trimming down its Executive Board from the six members it had previously to just two: Stefan Pierer and Gottfried Neumeister. At that time, Pierer was still CEO, with Neumeister named as Co-CEO.
These two are now simply exchanging titles.
Stefan Pierer will stay in a support role as Co-CEO.
These titles have changed, at least on paper.
Pierer Mobility AG also issued another investor release on January 23. It states “several offers from investors” that it has so far received as “part of the investor process structured by Citigroup Global Markets Europe AG.”
—Wayfarer
