OK, instead of trying to do a full recap of what's going on at KTM, it's basically a mess. Plain and simple, the company is still facing a looming insolvency and needs to find 600 million Euros by the end of the month. But I wanted to get that out of the way, as a boardroom brawl is beginning to see the light of day, and the way that it's going down is far more confusing than anything we've witnessed before.
The fight is between Stefan Pierer and Stephan Zöchling, two members of the board for Pierer AG and KTM AG. Yes, they're both named Stefan/Stephan and pronounced exactly the same. But that isn't the confusing part.
Pierer AG owns KTM AG, which in turn is also partially owned by KTM Bajaj AG. Stefan Pierer—the guy—used to be the CEO of both Pierer AG and KTM AG until recently, when he sorta stepped aside because of all the things happening at KTM. There are rumors he was forced out of the position as part of the whole restructuring plan, but that's unconfirmed.
