The Pierer Mobility Group (PMG) has announced that Stefan Pierer is stepping down as CEO of both PMG and KTM AG. Gottfried Neumeister, who became Co-CEO of PMG last year, will assume the role of CEO for both organizations. Pierer will continue to serve as Co-CEO during a restructuring phase to support Neumeister’s transition into leadership.
In the announcement, PMG acknowledged Pierer’s pivotal role in shaping the company’s success, while Pierer himself reflected on his personal connection to KTM. He described the company as a lifelong passion and admitted that stepping down was a difficult decision. However, he expressed strong confidence in Neumeister’s strategic vision to guide KTM forward.
Neumeister, in turn, commended Pierer’s contributions, calling KTM a company built on boldness, innovation, and dedication. He vowed to honor Pierer’s legacy while exploring new opportunities to solidify KTM’s global reputation and set new benchmarks in motorcycle manufacturing.
This leadership transition occurs almost a year ahead of Pierer’s original term-end date of December 31, 2025, and comes amidst financial difficulties for KTM AG. The company has been undergoing insolvency proceedings to avoid bankruptcy, leading to substantial cost-cutting measures.
These efforts have included reducing the workforce by 1,800 employees and lowering production volume to 230,000 units in 2024. According to PMG’s statement, these actions have already decreased global inventories by 40,000 units, a drop of 18%, marking a significant initial step in KTM’s broader restructuring plan.
Despite the challenges, PMG and KTM are committed to overcoming financial hurdles under Neumeister’s leadership, aiming to stabilize operations and secure a stronger future for the iconic motorcycle brand.
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