Browsing: StefanPierer

In a significant leadership transition, Stefan Pierer, the long-standing CEO of KTM AG, has announced his resignation amid a financial upheaval. Effective January 24, 2025, Co-CEO Gottfried Neumeister will take over the reins as KTM grapples with a challenging restructuring phase designed to navigate through escalating debt and avert bankruptcy. With debts exceeding €3 billion, the company has initiated a self-administration period since November 2024 to stabilize financial operations, including measures like production pauses and workforce downsizing. Meanwhile, KTM’s MotoGP involvement is under review with potential early withdrawal plans to cut costs. As Neumeister steps into the leadership role, both he and Pierer express unwavering confidence in steering KTM towards a robust future, despite the complexities ahead. This transition not only highlights KTM’s resilience in confronting fiscal adversities but also underscores a new strategic direction aimed at sustaining its legacy.