Harley-Davidson CEO steps down as sales continue to fall

According to a media report, Matthew Levatich, CEO of Harley-Davidson, will step down from his role as CEO and from the Board of Directors. It is said that Jochen Zeitz, a board member, will be the acting President and CEO. Harley-Davidson is expected to hire an outside search firm to fill the vacancy. Levatich is expected to stay through March to assist with the transition.

The bike maker has been struggling with falling sales in the US, which is its biggest market. The company is trying to adapt to an aging customer base and is trying to expand to new markets. Harley-Davidson reported a net profit of US$ 423.6 million in 2019.

In 2017, the company's revenue fell as sales slid.

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