Harley has finally found its new CEO after cool guy motorcycle man Jochen Zeitz decided to step down back in April, and he's a real dweeb number cruncher. Sadly, I did not get the job. The bar-and-shield brand decided to go a different direction and hire a guy named Artie Starrs, current CEO of Topgolf and former global CEO of Pizza Hut. Zeitz will stay on as a senior advisor, helping Starrs (who starts in October) get up to speed through next February. At Topgolf, Starrs helped grow the brand to more than 100 of the bowling-alley-for-golfers locations, growing company revenues by more than 50% in just four years, and expanding the brand into the European and Asian markets. Starrs studied economics at Princeton and began his career as an investment banker.
"It's a huge privilege to be joining Harley-Davidson as President and CEO, and I am grateful for the opportunity to help steward this incredible company," Starrs said in a statement. "I have long admired the unique position Harley-Davidson has in the hearts of its riders and fans; there is no brand that brings the same level of community and rebellious spirit as Harley-Davidson."
Starrs calls himself an avid sports and outdoor enthusiast who enjoys hiking, golfing, seeing live music, and spending time with his family. You may notice that none of those things listed include riding a motorcycle. It doesn't seem that Starrs has any connection to the motorcycle world, and if he has an endorsement, hasn't mentioned it. Is it a good thing to take on the most popular motorcycle brand in the U.S. without really knowing the market? Perhaps an outsider can look at Harley's growth needs with a clearer vision.
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'I'm excited by the tremendous potential to both drive growth and further enhance the H-D experience for all, and I look forward to working with the dedicated Harley-Davidson employees and dealer network as we start this journey together," Starrs said.
Motorcycle sales were down across the board in 2024 some 15%, and Harley found itself in dire straits with huge drops in sales across Europe and Asia as consumers are pulling back on non-essential purchases in an uncertain economy. H-D has struggled with younger riders in recent years, in spite of Zeitz' "Hardwire" plan aimed at brand revival, in part because the brand's entry-level models are still significantly more expensive than the rest of the market.
Starrs is taking on a tough market with Harley. The company faces a difficult international market with the ongoing trade war kicked off by President Donald Trump. Massive tariffs on steel and aluminum hurt Harley's bottom line, while trade turmoil further decreases consumer and investor faith in the economic system. Bikes are down, and especially expensive bikes. It'll be a tough row to hoe, but this is the right time for Harley to hire a numbers nerd to run the company instead of an enthusiastic life-long rider. Without any preconceived notions about what Harley should be, perhaps he's the right guy to mount a turnaround for the brand. Harley has already announced a less-expensive Sprint model coming next year, and recently sold off a non-controlling interest in its successful financial arm to stave off some of its debt, so maybe this is the start of a new day for the black and orange.
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