Harley’s Top Financial Executive Departs

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IMPORTANT  UPDATE: Tim Conder, analyst with Wachovia Capital Markets LLC, said today (5/4/2009) that Tom Bergmann, James McCaslin and Ronald Hutchinson were all internal candidates for the president/CEO position of Harley-Davidson, Inc., filled by Keith Wandell from Johnson Controls.

At the same time, Conder says Wandell seems to be a good choice to head the company. “(Wandell) appears very solid,” says Conder, adding that “Wandell’s primary adjustment from Johnson Controls to Harley will be an effective transition from an industrial to a consumer focused company.”

He also notes that Wandell is  developing both short-term and long-term strategic plans for Harley, and  has already publicly mentioned opportunities in the sport bike segment in the U.S. and internationally. JD

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Thomas Bergmann, CFO and Head of Finance Arm, Leaves
May 1 Was Moving Day for Several Other Executives at HOG

Thomas E. Bergmann, the top financial officer for Harley-Davidson, Inc., left the company April 30 to look at other career opportunities, the company said Friday. The announcement, made after the stock market closed, also included changes in the responsibilities for several other executives.

Bergmann was Harley’s CFO and also had been acting president for the company’s financial arm, Harley-Davidson Financial Services (HDFS).

“We wish to thank Tom for his many contributions to our business and wish him well in his future endeavors,” said Keith Wandell, Harley’s new president and CEO, who joined the company April 6.

At the same time Harley announced Bergmann’s departure, the company said that John Olin, the Motor Company’s vice president and controller, has been named interim CFO for Harley-Davidson, Inc. and that Perry Glassgow, Harley’s vice president and treasurer, also will serve as the interim president of HDFS.

Coincidentally, several other changes took place Friday, as well. As Dealernews reported previously, Harley had announced these changes, effective May 1:

  • Matthew S. Levatich, 44, is now president and COO of Harley-Davidson Motor Company, replacing James McCaslin. Levatich had been president and managing director of MV Agusta, the Italian motorcycle maker that Harley-Davidson, Inc. acquired last August.
  • James A. McCaslin, 60, who served as president of the Motor Company for the past eight years, moved to executive vice president for corporate product planning. He now reports to Wandell. McCaslin oversees motorcycle product planning and development.
  • Enrico D’Onofrio, 51, now is managing director of MV Agusta, replacing Levatich. D’Onofrio joined MV Agusta as corporate general director earlier this year.

Bergmann joined the company as chief financial officer in March 2006 and was named to run HDFS this January.

Prior to joining Harley, Bergmann held executive posts in finance at several companies, including Sears, Roebuck. Most recently, he served as Interim CEO of USF Corporation, a $2.5 billion transportation and logistics company. He held that post from November 2004 until June 2005; the company was acquired in May 2005.

He also held senior financial posts at The St. Paul Companies, Inc; Johnson & Johnson, and Honeywell International. Bergmann earned a BA in business and accounting from the College of St. Thomas in St. Paul, Minn. He also earned a master’s degree from the J.L. Kellogg School of Management.

When Bergmann was hired in 2006, James Ziemer, Harley president and CEO, said Bergmann filled a “crucial role” at Harley. “He has a solid track record and a skill set that will be an excellent complement to the leadership capabilities we already have in the organization,” Ziemer said at the time.  JD

Contact me with news tips and story ideas
at 952/893-6876 or joe@powersportsupdate.com.

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One Response to “Harley’s Top Financial Executive Departs”

  1. mixkore.com Says:

    thank you for this

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