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Longacre Square Partners represents H Partners Management, which is waging a proxy fight at Harley-Davidson.
It wants to replace three directors at Harley’s May 14 annual meeting, who have been “unwilling to hold the CEO accountable for severe value destruction and the cultural depletion of this iconic American company,” according to H Partners’ letter to shareholders.
Those board members include CEO/chairman Jochen Zeitz, presiding director Thomas Linebarger, and 29-year director Sara Levinson.
Harley posted an 11 percent drop in 2024 revenues to $5.2B and a 36 percent plunge in net income to $455M.
The company contends that H Partners, owner of a 9.1 percent stake in the company, is putting its own interest ahead of other investors, and seeking to disrupt the ongoing CEO transition process.
It says the board is committed to serve all shareholders “by continuing to strengthen the company’s foundation for the future and selecting the right CEO to lead Harley-Davidson into the next chapter.”
Longacre Square’s investor relations pros Greg Marose, Rebecca Kral and Kate Sylvester handle H Partners.
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