Harley-Davidson has announced it has completed “The Rewire” – the critical overhaul of its business – setting a strong foundation for “The Hardwire,” the company’s 5-year strategic plan to deliver profitable and desirable long-term growth and shareholder value. The company will reveal its 2021-2025 strategic plan, along with 2020 fourth quarter and year-end earnings results, on Tuesday, February 2, 2021.
“I am confident the substantial changes we made with The Rewire have set us up to successfully execute our strategic plan. We are now a leaner, more aligned organization, and we are making decisions faster,” said Jochen Zeitz, chairman, president and CEO of Harley-Davidson. “The right structure, leadership and principles are in place, and we are ready to execute our strategic plan, The Hardwire, and continue our H-D #1 cultural journey to become a high-performing company.”
According to the announcement, as a result of The Rewire, the company:
* Reduced complexity and increased speed with a new operating model and organizational structure across every function to provide simplicity, agility and efficiency
* Reset its global business, resourcing and prioritizing the markets with the highest potential
* Expanded its business focus beyond motorcycles, with a strong commitment to newly established business units for Parts & Accessories and General Merchandise
* Streamlined its product portfolio and rebuilt its go-to-market efforts for maximum impact
* Enhanced and protected the value and desirability of its products by changing the approach to supply and inventory management with a focus on a powerful and profitable dealer network
*Executed Rewire actions expected to deliver ongoing gross cash savings of approximately $115 million starting in 2021
Harley-Davidson will now execute The Hardwire, its 2021-2025 strategic plan grounded in desirability and guided by its vision to build its legend and lead the motorcycle industry through innovation, evolution and emotion. The company is focused on reigniting the spirit of Harley-Davidson and returning to winning, delivering the timeless pursuit of adventure and freedom for the soul for riders around the world.
The public is invited to attend an audio webcast on Tuesday, Feb. 2, 2021, from 8-9:30 a.m. CST. Jochen Zeitz and Gina Goetter, chief financial officer, will discuss the company’s financial results, strategic plan and outlook. A slide presentation supporting the discussion will be available 30 minutes prior to the audio webcast.
Webcast participants should log-on and register at least 10 minutes prior to the start time and can access the slide presentation HERE. A replay of the audio webcast will be available approximately two hours after the call concludes.
Additional Upcoming Key Dates
Jan. 19, 2021 – Harley-Davidson will announce new 2021 motorcycles, parts and accessories, riding gear and apparel at its first virtual launch experience – H-D 21. To take part in the virtual launch, register now HERE.
Feb. 22, 2021 – Harley-Davidson will reveal its all-new Pan America 1250 adventure touring motorcycle with a global digital event. Stay informed HERE.