The Harley-Davidson world has been in the spotlight in recent weeks, and not because it launched a wild 150 horsepower bagger. Rather, it's been in the spotlight due to its CEO Jochen Zeitz announcing his retirement, and the power play that his retirement kicked off with a former member of Harley-Davidson's board.
Two weeks ago, Jared Dourdeville of H Partners Management, an investment firm with about a 9% stake in the company, left in protest after the rest of the board told the young executive that he could pick the company's next CEO. He wasn't too happy about that and, with the backing of his investement company, launched a campaign not only to see Zeitz leave immediately, but also oust two long-standing board members, and pick his favorite candidate for CEO.
Harley, for its part, released a very catty SEC filing pretty much poking holes in every single one of Dourdeville and H Partners Management's claims about corporate malfeasance, and how he and they voted with the rest of the board every single time. That fight is still playing out, as H Partners Management has launched a proxy war to, hopefully, convince the brand's other investors, owners, and board members to sway their way.
