Next Friday (November 29th) KTM will initiate legal restructuring proceedings in order to get the company out of the current financial crisis within 90 days.
Today, Tuesday, November 26, 2024, Stefan Pierer, CEO of KTM, and Gottfried Neumeister (Co-CEO) spoke to the company’s more than 5,000 employees and presented a comprehensive plan to overcome the current financial crisis.
“Over the last three decades we have developed into the largest motorcycle manufacturer in Europe,” said Stefan Pierer. «We inspire millions of motorcyclists around the world with our products. Now let’s make a pit stop for the future. The KTM brand is my life’s work and I will fight for it.”
KTM will now initiate legal restructuring proceedings. The application will be submitted on Friday, November 29th. The process is expected to be completed within 90 days. KTM Components GmbH and KTM F&E GmbH are also affected. As is already known, the high inventories must be reduced.
Gottfried Neumeister has been a member of the board as co-CEO since September 2024. Stefan Pierer: “Gottfried Neumeister brought impressive experience and a breath of fresh air and made a significant contribution to overcoming the current situation. I am convinced that together we will get the company back on the road to success.”
“The enthusiasm of our employees is our most important competitive advantage,” explained Neumeister. «Your passion is the reason why KTM is synonymous with excellence worldwide. We build our motorcycles reliably and robustly for every race and for every terrain. Now it’s about making the company robust for the future so that we can quickly concentrate on what we do best: building the coolest motorcycles in the world.”
“Together we have made KTM a success story and together we will carry KTM into the future and make it stronger,” explained Pierer and Neumeister.
