KTM CEO Steps Down Amid Financial Crisis! ($3 Billion DEBT)

Описание: Today, In a significant move for one of the world's leading motorcycle manufacturers, KTM has announced a change at the helm. Stefan Pierer, who has led KTM AG since taking control in 1992, is stepping down from his CEO position. He will be succeeded by Gottfried Neumeister, who steps into the role as CEO of both Pierer Mobility AG and KTM AG, aiming to navigate the company through its current financial turmoil and into a stable future. KTM has been grappling with a severe financial crisis, burdened by approximately $3 billion (€2.9 billion) in debt, leading to the company entering a phase of self-administration. This restructuring is crucial for the Austrian firm's survival and future growth. Despite stepping down from his CEO position, Pierer, who remains the majority shareholder, will continue to serve on the executive board, assisting Neumeister as co-CEO during this transition phase. Pierer reflected on his long tenure with KTM, stating, "For me, KTM was always more than just a company – it was and is a passion, a mission and a family. The decision to hand over the helm was not an easy one. I am deeply convinced that Gottfried Neumeister, with his strategic foresight and commitment, is the right choice to lead KTM into the future." His words underline the emotional and personal investment he has made in the company over the decades.
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