Rumors have been going around for weeks about a possible withdrawal of Stefan Pierer from the bankrupt motorcycle manufacturer KTM. Since Thursday evening it has been clear: the owner is taking a step back in the battle to restructure the company. The new boss is Gottfried Neumeister.
Bang effect almost 14 hours before the exam meetings in KTM’s bankruptcy. In a press release, Pierer Mobility AG announced that owner Stefan Pierer is resigning as chairman of the board. The new boss of the company in Mattighofen (Upper Austria) is Gottfried Neumeister.
Neumeister, who only joined the company in September, will take over as chairman of the board of directors of Pierer Mobility AG and KTM AG will guide him through the restructuring process as co-director, it is said.
Pierer, who had attracted much anger and criticism after the bankruptcy, had gone diving in recent weeks, while Neumeister also attended the first court hearing in the restructuring proceedings on December 20 and answered questions from the media.
Turnover fell to 1.9 billion euros
Parallel to the change at the top of the company, Pierer Mobility AG also provided information on the provisional figures for the past financial year. Turnover fell to 1.9 billion euros in 2024. 292,497 motorcycles were sold to dealers – which represented a decrease of 21 percent compared to 2023. The result from operating activities before depreciation amounts to minus 300 million euros, and then not even taken into account the necessary value changes in the context of the restructuring process.
Since the beginning of 2024, 1,800 employees have had to leave
More than 1,800 employees have been laid off since the beginning of 2024; approximately 520 employees had to leave during the restructuring process alone. Regarding the stock return, Pierer Mobility AG reports that this is in full swing. Demand from end customers remains strong, it is emphasized.
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.
