The move follows Jochen Zeitz's decision to retire after five years in the role. He'll stay on as an adviser through early 2026. It also comes after months of friction with activist investor H Partners, which had pushed for major board changes earlier this year. Harley's not in an easy spot right now. Demand for its heavyweight bikes has softened, especially with younger buyers. The company's market share has slipped, and 2025 hasn't been kind to its stock, shares are down 20% year-to-date, compared to the S&P 500's 6% gain.
In a statement last week, the company said tariffs and supply chain costs are expected to add $85 million in pressure this year. That's on top of declining U.S. sales and growing competition from cheaper, tech-forward bikes.
Starrs takes over with a few things already in motion. Harley's planning to roll out a new sub-$6,000 model next year aimed at younger, budget-conscious riders. There's also a major financial restructuring underway, Harley just offloaded more than $5 billion in loans to KKR and PIMCO in a move to cut debt.
Starrs has a consumer background but not a motorcycle one. Before Topgolf, he was the CEO of Pizza Hut. His experience leading fast-moving, customer-focused brands is what Harley's betting on to help reverse its slide.
The leadership shuffle was part of a larger board refresh. Following pushback from H Partners, Zeitz and two other directors, Thomas Linebarger and Sara Levinson, announced they'll step down before next year's annual meeting. H Partners called the result a "win for long-term shareholders."
Meanwhile, former Starbucks exec Troy Alstead is stepping in as Harley's new board chair, further signaling a shift toward operational reset and brand reinvention. Harley didn't offer much commentary on Starrs' appointment beyond the official announcement. But investors seem cautiously optimistic, the stock ticked up 1.1% in early trading Monday.
