A yes with 99 percent

After the chief executive reshuffle, the armchair shift at KTM continues

Remus CEO Stephan Zöchling was elected to the Supervisory Board at the Extraordinary General Meeting at the "House of Brands" in Munderfing and is now also Chairman of the Board.

(Bild: Krone KREATIV/Gerry Frank Photography, Manfred Fesl)

The battle for KTM's restructuring is going from strength to strength: after Stefan Pierer's withdrawal from the executive chair at KTM AG and Pierer Mobility AG was finalized last week, the Extraordinary General Meeting was held in Munderfing on Monday. Remus boss Stephan Zöchling was elected to the Supervisory Board and the rescue steps were voted on. Everything was done in just under 80 minutes.

North 20 industrial estate in Munderfing: three minutes by car from the main KTM plant in Mattighofen, the extraordinary general meeting of Pierer Mobility AG took place on Monday in the "House of Brands". The parent company of the motorcycle manufacturer, which had slipped into insolvency, had convened the meeting in order to set the formal course for the restructuring of the company.

Two of the three items on the agenda revolved around the planned capital increase, which is intended to raise fresh money for the Group. The Executive Board around Gottfried Neumeister and Stefan Pierer wanted to obtain the green light from shareholders for financial instruments of up to 900 million euros - and received this with almost 99 percent "yes" votes. 23 investors had expressed an interest in participating in the restructuring. Who these investors are is top secret. The talks are in full swing.

Remus boss stood for election to the Supervisory Board
In addition to the approval of the measures necessary for the restructuring, which were given the green light, there was also a reshuffle on the Supervisory Board. Remus CEO Stephan Zöchling stood for election to the Supervisory Board, from which the previous Chairman Josef Blazicek has resigned in favor of Zöchling. The manager with restructuring experience has been a member of the Pierer Industrie AG Management Board since the beginning of the year.

I firmly believe in the power of the KTM brand to inspire motorcycle fans worldwide. My goal is to work with the management and the entire team to further expand KTM's position in the motorcycle industry, promote sustainable growth and pave the way for a technologically exciting future

Stephan Zöchling, neuer Aufsichtsratschef der Pierer Mobility AG

First acquired in Italy in September 2024
The 53-year-old, who is based in Vienna, worked for several years in Oleg Deripaska's group in Russia, secured the remaining assets of the former Sberbank Europe AG in June 2023 and only took over the Italian GLM Group with Remus in September 2024. "He is not a professional restructurer like others, but he can certainly help as a member of the supervisory board," says Florian Beckermann, CEO of the investors' association, for whom Zöchling's involvement raises questions: "Does he bring money with him? Where does it come from?"

Zöchling becomes Chairman of the Supervisory Board
The fact is: with the election of Zöchling, who was elected to the Supervisory Board of Pierer Mobility AG on Monday with 96.47 percent approval and ultimately also took over the chairmanship of the board, the armchair shuffling in the KTM Group continues apace. It was only last Thursday that the previous Co-Managing Director Gottfried Neumeister was promoted to the executive chair of KTM AG and Pierer Mobility AG. Owner Stefan Pierer is taking a back seat, becoming Co-Managing Director instead of CEO.