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Masters of Scale

Rapid Response: How Harley-Davidson set a foundation for the long term with CEO Jochen Zeitz

Masters of Scale

WaitWhat

Startups, Business, Mindset, Management, Bob Safian, Entrepreneurship, Diversity & Inclusion, Reid Hoffman, Jeff Berman

4.64.4K Ratings

🗓️ 29 July 2021

⏱️ 27 minutes

🧾️ Download transcript

Summary

Even an 118-year-old company needs an entrepreneurial jolt. When Jochen Zeitz took over as CEO of motorcycle maker Harley Davidson in early 2020, he moved quickly to restructure the business – even in the midst of the pandemic's highest uncertainty. That defiance paid off, settling investors and refocusing the company. He's trimmed the product line, set up equity grants for employees including factory workers, and doubled-down on Harley’s brand power. Challenges persist, including ongoing supply chain delays, but Zeitz has his eyes on the road ahead. As a longtime motorcycle rider and a longtime champion of sustainability, he is setting out to square those two passions – and lead the company through an expansive second century.

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Transcript

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0:00.0

A lot of challenge and if it wasn't for Harley and for such an iconic and extraordinary company brand

0:07.0

I probably wouldn't have done it.

0:08.0

There was a crisis that needed somebody to step in.

0:11.0

We needed to do a lot of rewiring of our product line.

0:15.0

The supply chain is a big issue for everybody trying to get semiconductors to come on time,

0:21.0

resin, raw materials, it's a constant battle every day.

0:25.0

All of us have to evolve our lifestyle, what we eat, how we live, how we consume,

0:31.0

what we do and the Harley is a great example of a true American icon that is in great transformation.

0:37.0

It's not just a motorcycle.

0:39.0

This is about the freedom, as we say the freedom for the soul, the adventure that the brand stands for.

0:46.0

You have a hundred and eighteen year old company, there's never an end to it,

0:50.0

so it's not about five years, it's about setting the foundation for a long term future.

0:54.0

That's Yachtin Zites, president, CEO and chairman of Harley Davidson.

1:02.0

With factory closures last spring, Harley's business and its stock price plunged,

1:07.0

but there was another turn in the road ahead.

1:09.0

Ambobs Safian, former editor of FESC, founder of the Flux Group and Host of Masters of Scale Rapid Response.

1:16.0

I wanted to talk with Yachtin because he chose to aggressively restructure Harley's business

1:21.0

in the midst of the pandemic's highest uncertainty, and that the finance quickly paid off,

1:26.0

settling investors and refocusing the company.

1:29.0

He trimmed the product line, set up equity grants for employees including factory workers,

1:34.0

and doubled down on Harley's brand power.

1:37.0

Yachtin is a long time motorcycle rider, but also a long time champion of sustainability,

...

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