Harley-Davidson board disagrees with proxy advisory firms’ recommendations

Harley-Davidson (HOG) issued a following statement in response to the Glass Lewis and Egan-Jones reports regarding the election of Directors to Harley-Davidson’s Board of Directors in connection with the company’s 2025 Annual Meeting of Shareholders to be held May 14. The Glass Lewis and Egan-Jones reports follow a recommendation from independent proxy advisory firm ISS that shareholders vote “for all” of Harley-Davidson’s Director nominees. Harley-Davidson noted that Glass Lewis’ report acknowledges the disruption of H Partners’ campaign. Presiding Board Director Tom Linebarger said, “In our view, Glass Lewis and Egan-Jones fail to recognize the Board’s strong oversight of the Company’s ambitious Hardwire strategic plan and its sound corporate governance, evidenced by our rigorous CEO search process and continued refreshment efforts. Amid challenging macroeconomic conditions, our strategy is driving outperformance relative to our peers and delivering value for all shareholders. We also believe removing two independent Directors with the institutional knowledge critical in selecting the strongest CEO candidate, as well as an outgoing CEO who is fully committed to supporting a successful transition, would introduce significant risk to the Company and jeopardize shareholder value.”