KTM’s parent company, Pierer Mobility AG, is set to see a major leadership transition after three decades. Current CEO Stefan Pierer has stepped down from his position at both KTM and Pierer Mobility AG, with Co-CEO Gottfried Neumeister set to take over.
- KTM gets a new CEO
- Over 1,800 employees were laid off across company subsidiaries
KTM’s new CEO details
Stefan Pierer is a prominent Austrian businessman, best known for building the KTM brand over the past three decades. He is also the major shareholder of Pierer AG, the parent company of brands like KTM, Husqvarna, and GasGas.
Even though the family name will continue to be present, it will not be led by Stefan Pierer. The company will now be led by the Co-CEO Gottfried Neumeister.
This step has been taken as part of a re-administration process, although Stefan will continue to be part of the company as a board member. Taking charge in 1992, he has grown the KTM brand from a regional motorcycle manufacturer to a global brand. This desire for growth has also led to debt in recent times.
Also, over 1,800 employees have been laid off across the company’s subsidiaries as motorcycle production was sharply reduced. In 2024, the group produced 2,30,000 motorcycles, a 26 percent decrease compared to 2023.
Additionally, the company has announced that it is in talks with potential investors who are willing to relieve it of 30 percent of its debt. This comes just weeks after we reported that Pierer Mobility AG could sever ties with MV Agusta amid financial woes.
Also see: KTM’s financial troubles grow, seeks funding upward of 100 million Euros
