The Pierer Mobility Group has introduced that its CEO, Stefan Pierer, will depart the place.
Pierer can even go away his function as CEO of KTM AG, and develop into Co-CEO in each cases to Gottfried Neumeister, who joined PMG’s administration construction as Co-CEO final yr.
“Stefan Pierer will hand over the function of CEO of Pierer Mobility AG and KTM AG to Gottfried Neumeister,” a press release from Pierer Mobility Group reads, including that Mr. PIerer “will proceed to help [Neumeister] as Co-CEO throughout the restructuring course of.”
On the announcement of his departure from the CEO function, Pierer stated: “For me, KTM was all the time greater than only a firm – it was and is a ardour, a mission and a household.
“The choice at hand over the helm was not a straightforward one. I’m deeply satisfied that Gottfried Neumeister, along with his strategic foresight and dedication, is the correct alternative to steer KTM into the longer term.”
Gottfried Neumeister added: “Stefan Pierer has created a singular firm that displays the fervour and pioneering spirit of all staff. I see it as my activity to protect this legacy and on the identical time to interrupt new floor.
“KTM stands for braveness, innovation and keenness – values that we are going to proceed to dwell by and carry into the longer term. Along with our group, we are going to proceed to strengthen KTM and set new requirements to construct the most effective bikes on the earth.”
The information of KTM’s and PMG’s change of CEO comes virtually one yr earlier than Pierer’s present time period as CEO was attributable to finish, on 31 December 2025.
Moreover, it comes amid monetary difficulties for KTM AG which has seen it begin insolvency proceedings which stay ongoing in an try to keep away from chapter.
Because it was introduced that KTM could be getting into into administration proceedings late final yr, measures have been taken inside the firm to chop prices.
A part of this has been decreasing the scale of the workforce, which the PMG assertion asserting the change in CEO provides has been reduce by 1,800 staff.
The discount in workforce was mixed with a discount in manufacturing quantity to 230,000 in 2024, which the assertion says has “relieved [global inventories] by round 40,000 models (-18 per cent). This represents an necessary first step within the restructuring plan.”
