Harley Davidson CFO to Leave Post
Harley Davidson CEO Gina Goetter will leave HD on a good note to take a similar job with toymaker Hasbro Inc.
The Chief Financial Officer for Harley Davidson will step down at the end of this month, the Motor Company announced yesterday.
Gina Goetter will leave to take a similar job with toymaker Hasbro Inc. In the meantime, David Viney, HD Vice President-Treasurer, will also serve as Interim Chief Financial Officer while the company conducts a search for a new one.
Shares of the Motor Company were down 2.8 percent in extended trading after falling more than 6 percent on Wednesday after the news.
New Wave of Corporate Officers
Goetter was part of the new wave in the Harley corporate offices when she came on board with new CEO Jochen Steitz in 2020. Goetter replaced John Olin, who had been with the company 17 years.
She was one of several employees Steitz brought in from outside the traditional motorcycle industry. The outgoing CFO was a big presence in HD’s “Hardwire” strategy, which was to axe non-performing models, invest heavily in prime movers and streamline business operations.
Part of that streamlining led to the company cutting 700 jobs in 2020.
Meeting or Beating Financial Forecasts as Harley Davidson CEO
Goetter is leaving the Motor Company with a good resume in that HD has been meeting or beating financial analysts forecasts since the global pandemic in 2020 wreaked havoc with global supply chains.
Most recently, the company completed a strong fourth quarter, successfully completing the second year of the “Hardwire” plan.
Its earnings per share (EPS) was up 100 percent from the previous year 2021 and global motorcycle shipments were up 18 percent after the two-week shutdown in May of last year due to non-compliant brake lines.
HD Rebounding From the Pandemic
The company has been rebounding since 2020, increasing its overall sales and earnings, and Wall Street has noticed. Its online sales are growing, particularly in the apparel and gear segment, for example.
Harley is also doing fairly well with holding on to most of its loyal base, who thrive on big, loud, gas-powered machines, while attracting younger buyers with its electric bikes and new adventure and middleweight cruisers.
The company is also trying to capitalize overseas since the global motorcycle market is forecast to reach revenues of nearly $129 billion this year.
Livewire Business Expected to Grow
And despite the fact electric motorcycle sales overall lag far behind electric car buys, HD’s “Livewire” program is expected to start performing better after a slow start.
Just recently, Livewire, of which Harley owns a 89 percent, jumped into the European market; Its e-bikes will be available to customers in Germany, France, the Netherlands and the UK for delivery later this month.
Livewire already has 30 dealers in Europe and has said it intends to double its dealers in the U.S. to a total of 75.
Photos: Harley Davidson
