“We will look to new leadership to recharge our business,” Zeitz, a member of the board, said in a statement. “On behalf of the board, I would like to thank Matt for his 26 years of service to Harley-Davidson. He has worked tirelessly to navigate the company through a period of significant industry change while ensuring the preservation of one of the most iconic brands in the world."
Shares of Harley-Davidson rose $1.53, or 5%, to $32 in after-hours action.
They ended the regular session at $30.47, pennies above their close of $30.39 on Aug. 26. The close at $30.39 was stock’s lowest since 2010.