2012-02-07 22:05:06 -
Media Contact: Maripat Blankenheim (414) 343-8664
Financial Contact: Amy Giuffre (414) 343-8002
MILWAUKEE, Feb. 7, 2012 - Harley-Davidson, Inc. (NYSE: HOG) President and Chief
Executive Officer Keith E. Wandell will assume the additional duties of Chairman
of the Company's Board of Directors, effective immediately. Wandell was named
Chairman by Board action.
"Keith is a transcendent leader who has done an outstanding job of guiding
Harley-Davidson in a period of extraordinary challenge and transformation," said
Barry K. Allen, who has served as the Company's non-executive Chairman since
2009.
"When Keith joined Harley-Davidson as CEO in 2009, the Board believed it
essential for him to be able to devote his full energy to strategies to move the
business forward, without the distraction of Board leadership responsibilities,"
said Allen. "With the Company's
tremendous progress under Keith's leadership
over the last three years, the Board believes the time is right to recombine the
roles of Chairman and CEO."
Additionally, the Board named Richard I. Beattie as Lead Director. Beattie has
been an outside director of Harley-Davidson since 1996. As Lead Director,
Beattie will head the oversight and monitoring activities of the Board that
would otherwise be performed by a non-executive Chairman.
Wandell joined Harley-Davidson in May 2009 as the Company's first outside CEO
since 1981. Beginning in fall 2009, the Company embarked on a major new strategy
to focus exclusively on the Harley-Davidson brand and transform the Company's
approach to product development, manufacturing and the retail experience.
"I am grateful for the confidence the Board has placed in me, since I first came
to Harley-Davidson, to work with everyone in this great organization to build a
bright future for our company," Wandell said. "On behalf of the directors and
all our stakeholders, we express our deep gratitude to Barry for his Board
leadership and we look forward to his continued guidance and contributions as a
director."
In other action, the Board approved a cash dividend of $0.155 per share for the
first quarter of 2012. This represents a 24% increase over the Q4 2011 dividend
($.125) and a 55% increase over the Q1 2011 dividend ($.100). The dividend is
payable March 2, 2012, to the holders of record of the Company's common stock on
February 21, 2012.
Company background: Harley-Davidson, Inc. is the parent company of Harley-
Davidson Motor Company and Harley-Davidson Financial Services. Harley-Davidson
Motor Company produces heavyweight custom, cruiser and touring motorcycles and
offers a complete line of Harley-Davidson motorcycle parts, accessories, riding
gear and apparel, and general merchandise. Harley-Davidson Financial Services
provides wholesale and retail financing, insurance, extended service and other
protection plans and credit card programs to Harley-Davidson dealers and riders
in the U.S., Canada and select European countries. For more information, visit
Harley-Davidson's Web site at www.harley-davidson.com.
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Source: Harley-Davidson, Inc via Thomson Reuters ONE
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