Will that be a retreat to guess? On January 23, it was announced that Stefan Pierer joined the second row at KTM AG and Pierer Mobility AG and now acts as a co-CEO. On Tuesday it became official: on March 4, the owner of the motorcycle manufacturer will withdraw from the KTM board. He stays with Pierer Mobility AG.
On the evening before the second day of the day in the course of the renovation process at the Regional Court in Ried IM Innkreis, the following Rochade became known to KTM AG and Pierer Mobility AG: Owner Stefan Pierer handed over the work as a CEO, overhanding the responsibility to Gottfried Neermate, but Pierer.
A week after the renovation plan of the motorcycle manufacturer that had gone bankrupt and the creditors had accepted the quota of 30 percent, there is now an expected step. Pierer is pulling today, Tuesday from the KTM AG board.
“I wish Neummeister the very best out of the heart. I found the perfect successor with him, “says the 68-year-old. And further: “I am firmly convinced that he will successfully lead the company to the future.” For Neummeister it is “an honor and dedication to continue the history of KTM”: “I want to thank Stefan Pierer for his confidence in continuing his life’s work.”
800 million euros needed
Pierer remains like a Co CEO from NeUmeister in Pierer Mobility AG. De Pierer Mobility is the listed parent company of KTM. According to its own statements, the motorcycle manufacturer needs around 800 million euros. All 600 million euros alone are needed to pay the rate of 30 percent. Instead of Stefan Pierer, Verena Schneglberger-Grossmann moves the head of the legal department to the board of KTM AG.
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.
