KTM boss Stefan Pierer is also involved with German cable giant Leoni – several Austrians are now on the supervisory board.
As an entrepreneur and innovator, Pierer brought the Upper Austrian motorcycle manufacturer KTM (today Pierer Mobility AG) to the forefront. 30 years ago he was commissioned for the then ailing brand. Pierer: “In 1992 we produced 6,000 motorcycles with 160 employees, today we make about 340,000 with 6,000 employees and we are Europe’s largest two-wheeler manufacturer.”
Born in Styria and now volunteering from Welser, he now wants to contribute his know-how to the loss-making German giant Leoni, whose nearly 100,000 employees in more than 40 factories around the world produce wiring harnesses for the automotive industry: “I support the restructuring of the company with my experience and my network.”
After several acquisitions, Pierer now owns more than 20 percent of the voting rights in the Leoni Group, which has an annual turnover of more than five billion euros. Experienced Austrians are now also on the Supervisory Board: Chairman is Klaus Rinnerberger, who is also a member of the Board of Pierer Industrie AG. Furthermore, Magna top manager Günther Apfalter and Viennese company lawyer and restructuring expert Ulla Reisch are on Leoni’s supervisory board.
Pierer, who wants the company to be profitable again in a year or two: “In the long term, a strategic partnership with an Asian partner would be ideal.”
Pierer has good experiences with collaborations. The Indian Bajaj Group, which also produces smaller models with a displacement of up to 400 cubic centimeters, has a majority stake in the listed KTM parent company Pierer Mobility.
“Work is like a workout and keeps you fresh”
Through his Pierer Industrie AG, he also owns the majority of the shares in the motorsport supplier Pankl Racing and in the German car supplier SHW AG (brake discs, etc.). Pierer, who turns 66 next week, isn’t thinking about retirement: “Work is like working out and keeps you fresh. Mick Jagger is still bouncing around the podium at 78!
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
