Stefan Pierer, CEO of KTM AG for many years, transfers the management of the company to Gottfried Neummeister, who was promoted to Co CEO last September. Pierer will continue to supervise the reorganization process as a member of the board of directors and will continue to be part of the KTM family.
Since Stefan Pierer KTM took over in 1992, he has developed the company of a regional motorcycle manufacturer into a major world brand in the motorcycle industry. However, the unprecedented growth suddenly stopped in the past year.
In his urge to become Europe’s largest, Pierer seemed to have over played his hand: due to declining sales and overproduction, a huge debt was created, causing the brand to stand the edge of the abyss. At the end of last year, production was stopped and the employees were sent home on unpaid leave.
In order to save KTM from ruin, a European restructuring procedure was started at the end of November last year, which gave Pierer 3 months to write a reorganization plan and to look for investors to illuminate the debt burden. KTM was said to have built up a debt of 1.7 billion euros.
The voluntary switch from Pierer to the second violin will absorb the pressure that was mainly created in the banking world. The reorganization plan can be continued accordingly.
“For me, KTM has always been more than a company – it was and is a passion, a mission and a family. The decision to transfer course was not easy. I am firmly convinced that with his strategic foresight and involvement, Gottfried Neumister is the right choice to lead KTM to the future. ”
Pierer’s successor Gottfried Neummeister has extensive experience in business management, including many years as a board member of Flyniki, the airline that he founded together with Niki Lauda. NeMeister had worked as a consultant at Siemens AG in Austria for that. In 2012, Neummeister switched to the Public Service DO & Co, where he held various positions on the board of directors until 2023, most recently as Co-CEO.
Since September 1, 2024, Gottfried has been NeUmeister Co-CEO by Pierer Mobility AG and KTM AG. Since January 1, 2025, he has also been a member of the Board of Directors of Pierer Industrie AG.
“Stefan Pierer has created a unique company that reflects the passion and pioneering spirit of all employees. I see it as my task to maintain this inheritance and at the same time take new ways. KTM stands for courage, innovation and passion – values that we will also propagate in the future. Together with our team we will continue to strengthen KTM and continue to set new standards to build the best motorcycles in the world. ”
– Thanks for information from Motorfreaks.