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    Harley-Davidson Inc (HOG)

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    Harley-Davidson, Inc. is a renowned manufacturer of motorcycles, focusing on both traditional internal combustion and electric models. The company designs, manufactures, and sells motorcycles, along with related parts, accessories, and apparel. Additionally, Harley-Davidson offers financial services to support motorcycle sales, enhancing its comprehensive market presence.

    1. Harley-Davidson Motor Company (HDMC) - Designs, manufactures, and sells internal combustion engine motorcycles, parts, accessories, and branded apparel.
      • Motorcycles - Produces motorcycles with engine displacements ranging from 600cc to approximately 1900cc.
      • Parts & Accessories - Offers replacement parts and mechanical and cosmetic enhancements.
      • Apparel & Licensing - Sells branded clothing and riding gear under the Genuine MotorClothes® line and licenses the Harley-Davidson name for various products.
    2. Harley-Davidson Financial Services (HDFS) - Provides retail and wholesale financing for motorcycle purchases and collaborates with insurance companies to offer motorcycle insurance and protection products.
    3. LiveWire - Focuses on electric motorcycles and related products, selling through independent retail partners and online channels.
      • Electric Motorcycles - Sells electric motorcycles primarily in Europe.
      • Electric Balance Bikes - Offers electric balance bikes for children under the STACYC brand.
    NamePositionStart DateShort Bio
    Jochen ZeitzPresident and Chief Executive OfficerMay 2020Jochen Zeitz has been President and CEO since May 2020, after serving as Acting President and CEO from February 2020. He has been a Director since 2007 and Chairman of the Board since February 2020.
    Jonathan RootChief Financial OfficerJune 26, 2023Jonathan Root was appointed CFO on June 26, 2023. He has over 25 years of financial experience and joined Harley-Davidson Financial Services in 2011, holding various leadership roles.
    Mark KornetzkeChief Accounting Officer2009Mark Kornetzke has served as Chief Accounting Officer since 2009.
    Paul KrauseChief Legal Officer, Chief Compliance Officer, and Corporate SecretaryMarch 2020Paul Krause joined Harley-Davidson in 2016 and was promoted to his current roles in March 2020 after serving as Interim Chief Legal Officer and Interim Chief Compliance Officer since 2019.
    Jagdish KrishnanChief Digital and Operations OfficerMarch 6, 2023Jagdish Krishnan joined Harley-Davidson in 2020 as Chief Digital Officer and was promoted to Chief Digital and Operations Officer on March 6, 2023.
    Luke MansfieldChief Commercial OfficerFebruary 12, 2024Luke Mansfield has been with Harley-Davidson since 2018 and will assume the role of Chief Commercial Officer on February 12, 2024. He previously served as VP – Chief Strategy Officer and VP – Motorcycle Management.
    Tori TermaatChief Human Resources OfficerJanuary 1, 2022Tori Termaat has been with Harley-Davidson since 2000 and was promoted to Chief Human Resources Officer on January 1, 2022. She has held various HR leadership roles during her tenure.
    Charles DoSenior Vice President, Harley-Davidson Financial ServicesOctober 23, 2023Charles Do was appointed Senior Vice President of Harley-Davidson Financial Services on October 23, 2023. He previously held leadership roles at Best Egg and JPMorgan Chase & Co..
    Glen KovalVice President Motorcycle Development, Harley-Davidson Motor CompanyAugust 1, 2022Glen Koval has been with Harley-Davidson since 2001 and was appointed Vice President of Motorcycle Development on August 1, 2022. He has held various engineering leadership roles during his tenure.
    1. Given the 13% decline in global retail sales and your plan to maintain dealer inventory levels flat year-over-year, what measures are you taking to prevent overstocking and potential further destocking in 2025 if retail softness persists?

    2. With HDMC operating income margin down 720 basis points year-over-year and a challenging macroeconomic environment, how confident are you in achieving the 15% operating margin target by 2025, and what specific initiatives will drive this improvement?

    3. International retail sales declined 23% in EMEA and 16% in Asia Pacific due to macroeconomic and geopolitical uncertainties—what targeted strategies are you implementing to address these declines and bolster international performance?

    4. LiveWire's full-year guidance has been revised downward, and significant cost-cutting measures are underway; at what point will you reevaluate the sustainability of investing in LiveWire if EV market adoption remains slow?

    5. With high interest rates affecting big-ticket discretionary spending and a stronger demand from higher-income customers, how are you planning to attract mid-income consumers, and is there a plan to introduce more affordable motorcycles to counteract declining sales?

    Program DetailsProgram 1 (August 2023)Program 2 (July 2024)
    Approval DateAugust 2023 July 2024
    End Date/DurationNo expiration date No expiration date
    Total Additional AmountUp to 10.0 million shares Up to 24.4 million shares
    Remaining Authorization0.2 million shares (allocated) 24.4 million shares (allocated)
    DetailsIncludes shares from both programs Includes shares from both programs