H Partners exposes Harley-Davidson board's actions ahead of critical shareholder meeting
- H Partners Management has raised concerns about undisclosed commitments made by Harley-Davidson's Board of Directors.
- The company owns approximately 9.3% of Harley-Davidson's outstanding shares.
- H Partners urges shareholders to vote against current board members to enhance the company's future.
In the United States, on May 8, 2025, H Partners Management, one of the largest shareholders of Harley-Davidson, expressed concerns regarding undisclosed commitments made by the company's Board of Directors. The shareholders have indicated that these secret dealings may be aimed at securing votes in favor of Jochen Zeitz, Thomas Linebarger, and Sara Levinson during the upcoming Annual Meeting on May 14. H Partners has received reports from various sources suggesting that select investors were informed about the board members potentially exiting and the search for an external CEO. The firm criticized the board for a lack of transparency and accountability, asserting that such secrecy leads to distrust among shareholders. They questioned why the board members are engaging with shareholders in this manner when they reportedly plan to step down soon. Additionally, they raised concerns regarding the board's past performance, which has resulted in significant losses in equity value for shareholders amassing to $9 billion over previous CEO transitions. H Partners firmly believes that maintaining the current board members poses a risk to the financial health and reputation of Harley-Davidson. By advocating for a vote of 'WITHHOLD' on the blue proxy card, they assert that the shareholders should take decisive action to facilitate a management overhaul within the company. They also highlighted that two independent proxy advisory firms have recommended a similar course of action to the shareholders, aligning with their claims about the untrustworthy nature of the current board. As the date of the Annual Meeting approaches, H Partners encourages fellow investors to consider their stance and take note of the implications of their votes on the future direction of Harley-Davidson. The firm has outlined its intention to engage in direct communication with shareholders to provide insights and seek support for its campaign aimed at reforming the board and addressing governance issues effectively.