Harley-Davidson has had a rough year. Between lackluster sales, tariffs spiking all sorts of imported parts and materials, and the leaving of a controversial CEO, there's been no shortage of fires for the company's management to put out. But there was one incident that caused more hubbub than anything else, and that was its attempted boardroom coup by a former director.
The tiff between the directors and the company began with former CEO Jochen Zeitz's announced departure at the end of this year, and revolved around who could pick, as well as who to pick, for the Motor Company's next CEO. One director wanted that power, the rest declined to give him that power, and it resulted in a very public attempted coup to oust everyone.
In the end, a new CEO was picked, and two long-standing directors resigned, giving the aforementioned former director the outcome they desired, even though he, too, left the board. That new CEO, Artie Starr, comes from TopGolf and Pizza Hut, and there's been a lot of talk around whether he's the right choice to lead the iconic motorcycle brand, given he doesn't have experience in the motorcycling world, a chief concern with Zeitz's tenure, too.
But in recent days, the two board members who resigned alongside Zeitz, have been replaced. And while one is another private equity leader, the second is currently the president and CEO of Yeti, the ubiquitous cooler company that knows its way around a product. And that, to me, seems like a great get to help guide Starr's Harley future. Let me explain.
I'll be honest, I share many of the same concerns about Starr that others have expressed. Harley is a unique beast, and he's coming in at a truly tumultuous time. And having business acumen is one thing for most normal brands, but Harley is most definitely not a normal brand. It's a vibe, a lifestyle, and a historic nameplate on par with brands like Nike, Weatherby, or Kleenex. But most importantly, it's a motorcycle manufacturer, and that's something that Harley really hasn't focused enough on with Zeitz's Hardwire strategy. It's an enthusiast's company, a motorcycling company.
But that's where I think having someone like Yeti's Matt Reintjes could come in handy.
See, Yeti is an enthusiast's company. While there's a good amount of flash in its products and marketing, the core of its business is to deliver something that will get owners talking about how good those products are. And how if you don't own one, you're missing out compared to Yeti's competitors. I mean, there's a reason why every tumbler is colloquially called a "Yeti," even though it's not from the company. Moreover, while Reintjes doesn't have a direct line to the motorcycling industry, he was part of Vista Outdoors Group, which, again, catered toward enthusiasts. And ensuring enthusiasts are happy is extremely difficult to do. But he did.
"Since 1903, the unique and iconic Harley-Davidson brand has represented a sense of freedom and the adventurous spirit of our riders. I am excited to join my fellow Board members in extending Harley-Davidson's cultural legacy and delivering further value for our stakeholders," said Mr. Reintjes.
Add to the fact that the board also has Ford's Jim Farely, who is another enthusiast himself—one who races vintage racecars on the weekends—and you have a mix of square business-y types and some folks who get it. All of this is to say that, while Starr isn't exactly the type of person I'd pick to run the company—I'd have raised my own hand and done great things as CEO—I think there are enough folks who can be great counsel to Starr as he learns what it truly takes to run Harley-Davidson.
At least, I hope so.
