After officially transferring the baton to Gottfried Neummeister at the beginning of this year and to have taken the role as Co-CEO, Stefan Pierer, Mastermind of KTM and CEO of Pierer Mobility AG, returns from the KTM AG board of directors. This puts an end to an era after 33 years.
Since the meeting of last week in which the creditors agreed to the restructuring, in which KTM will settle 30% of the outstanding debts before 23 May 2025, there are a corridor at KTM revolutions, with the most shocking of Stefan Pierer to fully withdraw from KTM.
Stefan Pierer describes KTM as his life brand. The Austrian born in Stiermarken saved KTM in 1992 from downfall and turned it into a very successful brand with an extensive range of sporty street models under the motto “Ready to Race”.
The 68-year-old Pierer had the vision of first of all turning KTM the largest European motorcycle manufacturer, in order to eventually compete with the Japanese manufacturers and to achieve that goal, several brands were purchased.
The trees seemed to grow to heaven, but in the end Pierer overlooked his hand and, ironically, stormed hard on that abyss, of which he had saved the brand in 1992. By calling on the European Involvention Procedure, Pierer managed to prevent an inevitable bankruptcy.
The European insolvency producer was devised in Brussels to give European companies the opportunity to write a restructuring plan for a period of 3 months. During that time, banking matters are frozen and no bankruptcy can be requested.
At the end of January, Pierer announced that it would hand over the leadership of KTM to Gottfried Neumaster, who had already been promoted to Co CEO in September last year and had left together with Pierer in the board of directors, who had been reduced from 5 to 2 people. As a new co-CEO, however, Pierer still had an important role within KTM.
Although Pierer is and remains the Mastermind of KTM, large creditors drong to Pierer’s departure, and that is what Pierer did on March 4. In a short statement, the parent company Pierer Mobility AG announced that Stefan Pierer has returned from the board of directors of KTM AG.
As a Co CEO, Stefan Pierer has accompanied KTM AG CEO Gottfried Neummeister until the reorganization plan is approved by the reorganization plan and is now fully transferring the KTM AG leadership. NeMeister was also recently the official point of contact for media representatives and appeared on the court sessions in Ried in the company of reorganization manager Peter Vogl.
Stefan Pierer, however, remains the co-CEO of the listed Pierer Mobility AG, the parent company of KTM.
– Thanks for information from Motorfreaks.