Neumeister new boss

Bang: Pierer quits as KTM boss

Gottfried Neumeister joined the Executive Board of Pierer Mobility AG in September, now Stefan Pierer (left) is leaving him the role of CEO.

(Bild: Krone KREATIV/Pierer Mobility, Markus Wenzel)

Rumors have been swirling for weeks about a possible resignation of Stefan Pierer from KTM, the motorcycle manufacturer that slipped into bankruptcy. Since Thursday evening, it has been clear that the owner is taking a back seat in the battle to turn the company around. "The decision to hand over the helm was not an easy one," says Pierer. The new CEO is Gottfried Neumeister.

A bombshell just 14 hours before the KTM insolvency hearings. In a press release, Pierer Mobility AG announced that owner Stefan Pierer (68) was stepping down as CEO. The new boss of the company in Mattighofen (Upper Austria) is Gottfried Neumeister (47). The changeover is called a generational change.

"Preserving the legacy, breaking new ground"
Neumeister, who only joined the company in September 2024, will soon take over as CEO of Pierer Mobility AG and KTM AG; Pierer will accompany him through the restructuring process as Co-Managing Director, it is said. "Stefan Pierer has created a unique company that reflects the passion and pioneering spirit of all employees. I see it as my task to preserve this legacy and at the same time break new ground," emphasizes Neumeister.

Pierer has come in for a lot of malice and criticism in recent weeks. Time and again, it was said that banks and financial institutions in particular were making the owner's withdrawal a condition for supporting the restructuring. Neumeister appeared in the spotlight, because he was new: The ex-Do&Co board member was also present as a representative of KTM at the first court hearing in the restructuring proceedings on December 20, where he answered questions from the media.

For me, KTM was always more than just a company - it was and is a passion, a mission and a family. The decision to hand over the helm was not an easy one. I am deeply convinced that Gottfried Neumeister is the right choice to lead KTM into the future.

Stefan Pierer

Turnover fell to 1.9 billion euros
Parallel to the change at the top of the company, Pierer Mobility AG also announced the preliminary figures for the past financial year on Thursday evening. Turnover fell to 1.9 billion euros in 2024 (2023: 2.66 billion euros). A total of 292,497 motorcycles were sold to dealers - a decrease of 21 percent compared to 2023. The result from operating activities before depreciation and amortization will amount to minus 300 million euros - at least. This is because necessary value adjustments as part of the restructuring process are not even included here.

1800 employees have had to leave since the beginning of 2024
Since the beginning of 2024, more than 1,800 employees have been made redundant, with around 520 employees having to leave during the restructuring process alone. With regard to the reduction in inventories, Pierer Mobility AG has announced that this is in full swing. End customer demand remains strong, the company emphasizes.

Financing of the restructuring quota appears to be secured
With regard to the battle to save the company, Pierer Mobility confirmed that several financing offers have been received. These are prepared to inject capital into either Pierer Mobility or KTM AG. The company will enter into talks with the investors who have submitted offers, it is said. The funds can be used to finance the 30 percent quota in the restructuring plans of KTM AG, KTM Components GmbH and KTM Forschungs & Entwicklungs GmbH. This means that around 570 million euros are likely to have been secured.