KTM’s parent company Pierer Mobility AG after three decades is set to see a major transition in leadership. The current CEO Stefan Pierer has stepped down from the leadership position of KTM and Pierer Mobility AG and will be replaced by Co-CEO Gottfried Neumeister.
- 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 last 3 decades. He is also the major shareholder of Pierer AG which is 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 former 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. He has built the KTM brand in the last 3 decades, 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.
Stefan is not the only one who has lost its position as of now as 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, down 26 percent from 2023.
Additionally, the company has also announced that it is in talks with potential investors who are willing to relieve the company of 30 percent of its debt. This news comes weeks after we had reported that Pierer Mobility AG could be severing ties with MV Agusta amid financial woes.
Also see: KTM’s financial troubles grow, seeks funding upward of 100 million Euros