Purple Chip Capital Endorses H Partners’ Initiative for Change at Harley Davidson, Declares Intent to WITHHOLD Votes at the 2025 Annual Shareholders Meeting
Critiques Disengaged Board of Directors and Misguided Strategic Vision
CANTON, Ga., April 29, 2025 /PRNewswire/ — Purple Chip Capital Management, LLC (“Purple Chip Capital”), a value-driven investment firm and long-term investor in Harley Davidson, Inc. (NYSE:HOG) (“Harley Davidson” or the “Company”), has issued a statement supporting H Partners’ campaign for change at Harley-Davidson and declaring its intent to WITHHOLD votes regarding the re-election of CEO and Chairman Jochen Zeitz, along with Directors Thomas Linebarger and Sara Levinson during the Company’s 2025 Annual Meeting of Shareholders.
“As dedicated long-term shareholders and patrons of Harley Davidson, we have witnessed with concern the Company’s significant deviation from the fundamental principles that established it as an enduring American icon. Owning a Harley Davidson has always encompassed more than just having a motorcycle; it signifies being part of a distinctive culture and community recognized throughout the United States. This community thrived on a national network of dealerships that acted as local hubs, offering personalized services, exclusive events, and various tailored options that define Harley Davidson’s legacy.
The current Board of Directors has overlooked this culture, undermining the very foundation that has propelled Harley Davidson for almost 125 years, opting instead for online sales, inappropriate product expansions, and a neglect of the high-quality choices that make each Harley Davidson motorcycle genuinely distinct. The Company deserves a board that appreciates what distinguishes it and treats its dealers as essential partners and contributors to its success. Without thriving dealerships, the cherished community we are part of will dwindle, and performance will inevitably decline.
Regarding products, the Company must accept that the electric Livewire bikes were a serious misstep and should be phased out. Harley Davidson enthusiasts crave raw, unfiltered American power, not electric alternatives. The focus should shift to engaging the next generation of Harley riders, revamping the product line, and reinstating the iconic Sportster 883 as an entry-level option. Additionally, the ongoing push for cost-cutting through plastic accessories and trims has diminished the allure of the comprehensive Harley Davidson product range. It’s time to rekindle the pride that Harley Davidson riders have always felt in their motorcycles and the Company itself, bringing back high-quality parts and accessories crafted from chrome, steel, and leather.
We are pleased to see H Partners echo our concerns regarding the current trajectory of Harley Davidson, and we plan to WITHHOLD our votes for Directors Zeitz, Linebarger, and Levinson at the Annual Meeting. We believe that removing these three long-standing directors, who are evidently disconnected from Harley Davidson’s legacy, is a crucial step towards restoring the Company’s honor for the benefit of its riders, dealers, and shareholders.”
About Purple Chip Capital
Purple Chip Capital Management is an investment management firm established by Jason T. Dickerson, recognized for its value-oriented strategies and long-term investing approach. Based in Canton, Georgia, Purple Chip Capital emphasizes the identification of undervalued companies, often utilizing a concentrated portfolio strategy, and actively collaborates with management to enhance performance when needed.
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SOURCE Purple Chip Capital Management, LLC