KTM announced a strategic restructuring plan
Austria – November 26, 2024 – KTM CEO Stephan Pierre and colleague Gottfried Neumeister addressed the company’s more than 5,000 employees today, laying out a comprehensive plan to address the current financial challenges and ensure a strong future for KTM.
Making KTM strong for the future
Stefan Pierre, CEO of KTM AG: “Over the past three decades, we have grown to become a major European motorcycle manufacturer. We inspire millions of motorcyclists around the world with our products. Now we will take a well for the future. The KTM brand is my life’s work, and I will fight for it.
Having grown from 160 employees and a production capacity of 6,000 units in 1992 to a production capacity of 1,000 motorcycles, KTM now faces a major setback. To address these, KTM will initiate a legal restructuring process for its autonomy. The application will be submitted on Friday, November 29, with a view to completing the process within 90 days.
As of September 2024, Gottfried Neumeister has joined the board as co-CEO. Stephane Pierre: “Gottfried Neumeister brings great experience and a breath of fresh air and has made a big contribution to solving the current situation.” I am confident that together we will bring the company to success.
Gottfried Neumeister, CEO of KTM AG: “The enthusiasm of our employees is our most important competitive advantage. Their passion is the reason why KTM is synonymous with high performance worldwide. We build our motorcycles to be safe and durable for every race, every terrain. Now it is to make the company strong. Strong for the future. Fast forward to refocusing on what we do: building the coolest motorcycles in the world.
Pierer and Neumeister emphasized the importance of employee commitment and support during this period. “Together, we have made KTM a success story, and together, we will take KTM forward,” he said.
For more information and to view the full statement by Stefan Pierer and Gottfried Neumeister, please visit this link: https://www.youtube.com/watch?v=1P8uT_7JGNM
Taking on KTM North America
Andrew Jefferson, KTM’s North American media relations manager, released the following statement from the company’s California headquarters.
“Regarding today’s announcement regarding KTM AG’s financial news, we have no further comment to make at this time beyond the press release (below). An important detail is that this is a legal restructuring process involving KTM AG.
“(KTM) North America and all other KTM subsidiaries are excluded.
“Thank you for your patience. We will have more feedback as information becomes available.”
