Stefan Pierer has officially stepped down as the CEO of KTM today. Below is the press release from KTM. We will have more on this story as it unfolds. (Scroll down to view the latest update from January 27, 2025.)
Mattighofen, Austira January 23, 2025 – Stefan Pierer, CEO of KTM AG for many years, is handing over the management of the company to his Co-CEO Gottfried Neumeister. With this step, one of the world’s leading motorcycle manufacturers is strategically positioning itself for the future. Pierer will continue to accompany the reorganization process as a member of the Executive Board with full commitment and will remain part of the KTM family.
Since taking over KTM in 1992, Stefan Pierer has built the company from a regional motorcycle manufacturer into a global brand with legendary status in the motorcycle industry. Today, for millions of fans, KTM stands for innovation, performance and a spirit of adventure like no other brand – values that will remain in focus under the new management.
“For me, KTM was always more than just a company – it was and is a passion, a mission and a family. The decision to hand over the helm was not an easy one. I am deeply convinced that Gottfried Neumeister, with his strategic foresight and commitment, is the right choice to lead KTM into the future,” says Stefan Pierer.
Gottfried Neumeister brings extensive experience in corporate management, including many years as a board member of flyniki and DO &CO. He emphasizes: “Stefan Pierer has created a unique company that reflects the passion and pioneering spirit of all employees. I see it as my task to preserve this legacy and at the same time to break new ground. KTM stands for courage, innovation and passion—values that we will continue to live by and carry into the future. Together with our team, we will continue to strengthen KTM and set new standards to build the best motorcycles in the world.”
With the new management structure, KTM is ideally equipped to master the challenges of the future and continue its success story. The focus remains on innovation, performance and the continuous development of a motorcycle brand that inspires millions of fans worldwide. KTM remains focused on redefining the limits of what is possible on two wheels. The company will continue on its path with the same determination that has made it a global icon under the leadership of Stefan Pierer.
About Gottfried Neumeister
After completing his studies in international business administration at the University of Vienna, Gottfried Neumeister worked as a consultant at Siemens AG Austria. In 2003, he founded flyniki together with Niki Lauda and was responsible for the successful development of the aviation business (until its sale to Air Berlin). In 2012, Mr. Neumeister moved to DO &CO Aktiengesellschaft, where he held various positions on the Management Board, most recently (2021-2023) as Co-CEO. Gottfried Neumeister has been Co-CEO of Pierer Mobility AG and KTM AG since September 1, 2024. He has also been a member of the Executive Board of Pierer Industrie AG since January 1, 2025.
UPDATE JANUARY 27, 2025
Stefan Pierer is the latest casualty amidst the tale of KTM’s dramatic financial angst, as it was announced the Austrian has stood down from his role as CEO of KTM AG last week.
By Neil Morrison
The company is in the midst of self-administration debt restructuring proceedings after a year of catastrophic financial results in 2024 and is fighting to find ways to repay 30 percent of the $2.5 billion debt owed to creditors, as per Austrian law.
Pierer, who Forbes magazine determined had a net worth of $1.6 billion in 2023, had been at the helm of KTM since taking over in 1992. Since then, he oversaw the Austrian company’s rise from a regional manufacturer to a global brand, and multiple-time MotoGP race winner.
The Austrian had recently been in India to talk with bosses of the Bajaj brand about possible investment in the company to help alleviate its current financial predicament.
Co-CEO Gottfried Neumeister will now take on the role of company CEO, after he joined as recently as September 1, 2024. He has previous experience at Siemens AG Austria and DO & CO Aktiengesellschaft. Pierer will remain on the executive board to accompany the reorganization process.
“For me, KTM was always more than just a company—it was and is a passion, a mission and a family,” Pierer said via an official statement. “The decision to hand over the helm was not an easy one. I am deeply convinced that Gottfried Neumeister, with his strategic foresight and commitment, is the right choice to lead KTM into the future.”
While this represents major news for the company, the key meeting is yet to come. Its final court hearing on February 25 is the date to watch. There, creditors will be given the choice of accepting or rejecting the proposals presented from the proceedings. And understanding whether the brand will survive could be dependent on new investment coming in.
While the company has recently enjoyed motorsport successes in the Dakar Rally with Australian Daniel Sanders winning the two-wheel category, and in the Monster Energy AMA Supercross class, where Chase Sexton sits second in the 450 standings, there was further news on the restructuring proceedings on January 24.
A hearing presented updates on the restructuring proceedings and revealed KTM and its subsidiaries have $2.5 billion of debt. While there were flecks of good news, local paper KSV1870 said the proceedings amount to “the largest bankruptcy ever filed in Upper Austria.” A total of 3534 claims have been filed, “namely 2347 claims from employees and 1187 claims from other insolvency creditors,” according to Austrian creditor AKV.
The hearing also revealed KTM has reduced its workforce by close to 500 since the self-administration proceedings started. As AKV cited, the original number of 2477 employees that were in work at the close of last year has fallen to 1991. Contracts of three members of the KTM executive board were also terminated.
Yet there are grounds for optimism and reason to believe KTM could still emerge from this predicament and meet the 30 percent repayments of its vast debts. Despite its production line currently at a standstill, the company will continue to operate. And according to AKV, “KTM’s parent company Pierer Mobility AG commissioned Citigroup Global Markets Europe AG (“Citibank”) to find an investor solution. This process is underway, and a total of 23 potential investors are participating.”
Speaking to the Austrian press after that hearing, Neumeister said, “We have completed the second stage of the 90-day restructuring proceedings. And there are only three reasons why KTM is still alive: the tireless commitment of our employees, the loyalty of our customers, and because we have a fearless and highly professional insolvency administrator. Thank goodness that’s the case.”
Neumeister also gave a clear indication of KTM’s desire to remain a crucial part of motorsport competition, with its recent success in the Dakar Rally proof of that. “Winning the most important motorcycle category at the Dakar Rally is not just a sign of life, but shining proof that KTM can build the best motorcycles in the world,” he said. “If the banks let us live to see this third stage [of the restructuring], we will be able to continue doing so in the future.”
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