Stefan Pierer is no longer the KTM CEO
The Pierer Mobility Group has today announced that Stefan Pierer is stepping aside for Gottfried Neumeister
In news that we’ll file under ‘Not Very Surprising’, Stefan Pierer, the head of the Pierer Mobility Group (PMG) is standing down as the CEO of KTM AG.
Taking the reigns of the Austrian company will Gottfried Neumeister, and it’s important to note that Pierer standing down only relates to the KTM brand. His position at the head of PMG remains.
The announcement on the PMG website reads:
“Stefan Pierer, CEO of KTM AG for many years, is handing over the management of the company to his Co-CEO Gottfried Neumeister.
“Since taking over KTM in 1992, Stefan Pierer has built the company from a regional motorcycle manufacturer into a global brand with legendary status in the motorcycle industry. Today, for millions of fans, KTM stands for innovation, performance and a spirit of adventure like no other brand - values that will remain in focus under the new management.”
The news bookends a significant period for KTM, and not for the right reasons. With financial troubles stemming from an over-production of bikes, among other things, it felt like it was only a matter of time until the news was made public.
Speaking about his time at KTM, Pierer said:
"For me, KTM was always more than just a company - it was and is a passion, a mission and a family. The decision to hand over the helm was not an easy one. I am deeply convinced that Gottfried Neumeister, with his strategic foresight and commitment, is the right choice to lead KTM into the future,"
The man stepping into Pierer’s shoes is Gottfried Neumeister who brings extensive experience and was a former board member at flyniki and DO &CO, among others. "Stefan Pierer has created a unique company that reflects the passion and pioneering spirit of all employees.” Gottfried said. “I see it as my task to preserve this legacy and at the same time to break new ground. KTM stands for courage, innovation and passion - values that we will continue to live by and carry into the future. Together with our team, we will continue to strengthen KTM and set new standards to build the best motorcycles in the world."
KTM is still in the midst of its recovery, and along with the bad news of job losses, and late wage payments over the previous months, things are starting to look brighter. Investors are at least willing to work with KTM, and early reports suggest one investor has already earmarked a vast sum to help support the brand.
More on that as we have it.
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Simon (AKA Toad) has been working within the motorcycle industry for more than twelve years, and a member of the motorcyclist family since birth. Growing up around British-built single and twins, it was inevitable that a life on two wheels was on the cards, from a very early age!
