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Sep 21
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Harley-Davidson Announces New Chief Financial Officer

By General Posts

 

from https://motorcycles.einnews.com

/EIN News/ — Milwaukee, Sept. 21, 2020 (GLOBE NEWSWIRE) — Harley-Davidson, Inc. (“Harley-Davidson”) (NYSE:HOG) announced that Gina Goetter, a top finance executive at Tyson Foods, will join the company as Chief Financial Officer, effective September 30.

Goetter has more than twenty years of experience driving strong financial and operational results and leading transformational change. Most recently, she served as Senior Vice President and CFO of Tyson Foods’s prepared foods segment, where she led the reinvention of the segment’s business model to stabilize cash flow and right-size the cost structure. Prior to Tyson Foods, Goetter held various global leadership positions with General Mills, Inc., where she led business model re-engineering and optimized procurement strategies and logistics. Goetter earned a Bachelor of Science in Finance and Economics from the University of Wisconsin – La Crosse and an MBA with a dual concentration in Finance and Marketing from Boston College.

“Gina is a CFO with the experience to drive a transformation of core processes and reporting for improved operational efficiency, build a global shared services model and modernize accounting and controls,” said Jochen Zeitz, chairman, president and CEO of Harley-Davidson. “She will add to the fresh perspectives and new capabilities now represented at the leadership level that complement the experienced talent that has been promoted from within. We have a diverse management team structured in a new way that is designed to fuel Harley-Davidson’s brand desirability and lead Harley-Davidson as a high-performing organization.”

Darrell Thomas, who assumed the role of interim CFO, will continue as Vice President and Treasurer.

The company is currently continuing through The Rewire, Harley-Davidson’s efforts to, among other things, overhaul its operating model. The Rewire is planned to continue through the end of 2020, leading to The Hardwire, a new strategic plan for 2021-2025.

Company Background
Harley-Davidson, Inc. is the parent company of Harley-Davidson Motor Company and Harley-Davidson Financial Services. Our vision: Building our legend and leading our industry through innovation, evolution and emotion. Our mission: More than building machines, we stand for the timeless pursuit of adventure. Freedom for the soul. Since 1903, Harley-Davidson has defined motorcycle culture with an expanding range of leading-edge, distinctive and customizable motorcycles in addition to riding experiences and exceptional motorcycle accessories, riding gear and apparel. Harley-Davidson Financial Services provides financing, insurance and other programs to help get Harley-Davidson riders on the road. Learn more at www.harley-davidson.com.

Cautionary Notes Regarding Forward-Looking Statements

The company intends that certain matters discussed in this press release are “forward-looking statements” intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements can generally be identified as such by reference to this footnote or because the context of the statement will include words such as the company “believes,” “anticipates,” “expects,” “plans,” “may,” “will,” “estimates” or words of similar meaning. Similarly, statements that describe or refer to future expectations, future plans, strategies, objectives, outlooks, targets, guidance, commitments or goals are also forward-looking statements. Such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially, unfavorably or favorably, from those anticipated as of the date of this release. The risks and uncertainties that could cause actual results to materially differ from these statements include, among others, the Company’s ability to create and execute its business plans and strategies and strengthen its existing business while allowing for desirable growth and the COVID-19 pandemic, including the length and severity of the pandemic across the globe and the pace of recovery following the pandemic, as well as matters noted by the company in its filings with the SEC including but not limited to those described under “ Item 1A. Risk Factors” in the company’s Annual Report on Form 10-K for the year ended December 31, 2019 filed with the SEC on February 28, 2019 and in Part II, Item 1A of the subsequently filed Quarterly Reports on Form 10-Q. Shareholders, potential investors, and other readers are urged to consider these factors in evaluating the forward-looking statements and are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements included in this press release are only made as of the date of this press release, and the company disclaims any obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.

Jan 30
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Facing financial crunch, UK based Norton Motorcycle goes into administration; India roll out hit

By General Posts

by Ketan Thakkar from https://economictimes.indiatimes.com

Norton had set up an equally owned joint venture with Pune-based Kinetic Motoroyale in 2017 to start making mid-size motorcycles for India and Southeast Asian Markets by 2018. The project got delayed due to financial crunch at the UK-based entity.

UK-based premium bike maker Norton Motorcycle’s India roll out may be hit, as the company has gone into administration after failing to pay outstanding dues to the UK authorities.

According to a news report, the company is struggling to pay a tax bill and faces a winding-up order under the UK’s insolvency law.

Norton had set up an equally owned joint venture with Pune-based Kinetic Motoroyale in 2017 to start making mid-size motorcycles for India and Southeast Asian Markets by 2018. The project got delayed due to financial crunch at the UK-based entity.

When contacted, Kinetic Motoroyale managing director Ajinkya Firodia told ET that Norton was looking to raise funds. Firodia said he would be travelling shortly to the UK to understand the situation better and seek clarity.

“Norton Motoroyale (the joint venture) is a separate company and continues to exist and hold its rights in its territories of India and Asean countries. After our visit, we shall understand the extent of impact, if any. The India-side development of all parts is nearly complete for the 650 Atlas. For some parts developed in the UK or Europe for Norton, I shall seek clarity from the administrator,” Firodia added.

When queried if the 650cc bike would get further delayed, he said it was “difficult to predict” now.

Kinetic Motoroyale had set up a 30,000-unit capacity plant in Ahmednagar in Maharashtra. A range of Norton bikes were expected to be made at this plant for Indian and Southeast Asian markets.

According to media reports, Norton, which was rescued by property developer Stuart Garner in 2008, said the company owed tax authorities 300,000 pounds and could be liquidated if it was not given more time to pay.

The report added that two of Garner’s other companies were also in administration.

Founded in Birmingham, Norton began making motorbikes in 1902 and soon became associated with races such as the Isle of Man TT.

Models like the Dominator and the Commando are well renowned and some of the bikes have even been featured in films including the Bond movies. The Norton Interpol was used by the UK Police in the 1980s for patrolling.