Latest news with #Linebarger
Business Wire
14-05-2025
- Business
- Business Wire
H Partners Obtains Clear Referendum for Change at Harley-Davidson's 2025 Annual Meeting
NEW YORK--(BUSINESS WIRE)--H Partners Management, LLC ('H Partners' or 'we'), one of the largest shareholders of Harley-Davidson, Inc. (NYSE: HOG) ('Harley-Davidson', 'Harley', or the 'Company'), which beneficially owns approximately 9.3% of the outstanding shares of the Company, today commented on the preliminary results of the Company's 2025 Annual Meeting of Shareholders (the 'Annual Meeting'). 'We thank our fellow shareholders and all other stakeholders, including dealers, riders, and employees, for their outpouring of support during this campaign for change at Harley. While we are disappointed with the state of the Company under the leadership of Mr. Zeitz, Mr. Linebarger, and Ms. Levinson, we believe that this shareholder mandate can create a brighter future for Harley-Davidson. We are encouraged that this campaign compelled Harley's Board to commit to numerous shareholders that Mr. Zeitz, Mr. Linebarger, and Ms. Levinson will resign from the Board before the 2026 Annual Meeting, that it will appoint a new, external CEO, and that it will eliminate any consideration of Mr. Zeitz remaining on in an Executive Chair role. With such a large withhold vote, we call on the Board to follow through on these promises. We believe the outcome of today's Annual Meeting sends a clear message that the direction of the Company needs to change. We are pleased that our campaign forced the Board to engage directly with stakeholders that they had long ignored, including dealers, employees, and shareholders. We encourage all stakeholders to continue to voice their perspectives on what is required to fix this great company.' H Partners Management, LLC is an independent investment firm founded in 2005 based in New York City.
Business Wire
08-05-2025
- Business
- Business Wire
H Partners Exposes the Harley-Davidson Board's Apparent Attempt to Secure Votes by Making Secret, Undisclosed Commitments Ahead of Annual Meeting
NEW YORK--(BUSINESS WIRE)--H Partners Management, LLC ('H Partners' or 'we'), one of the largest shareholders of Harley-Davidson, Inc. (NYSE: HOG) ('Harley-Davidson', 'Harley', or the 'Company'), which beneficially owns approximately 9.3% of the outstanding shares of the Company, today commented on what appear to be secret, undisclosed commitments made by the Company's Board of Directors (the 'Board') to a hand-picked set of shareholders ahead of the Company's upcoming Annual Meeting of Shareholders (the 'Annual Meeting'): 'As a result of our ongoing engagement with fellow shareholders, we have learned from numerous sources that the Harley-Davidson Board has been making secret, undisclosed commitments to select investors in an apparent attempt to win votes for Jochen Zeitz, Thomas Linebarger, and Sara Levinson at the 2025 Annual Meeting of Shareholders. Our engagement leads us to believe that certain shareholders are being told that Mr. Zeitz, Mr. Linebarger, and Ms. Levinson intend to exit the Board over the next year, the Board now intends to appoint an external CEO, and the Board has done away with the concept of the current CEO transitioning to Executive Chair. In addition to constituting a flagrant violation of corporate governance norms and the SEC's proxy rules, this conduct suggests that the Board believes there are two tiers of shareholders: an elite group of holders with special access and all other holders who are in the dark. We maintain that this is exactly the type of arrogant, insular thinking that has led to brand erosion, dealer frustration, and sustained sales declines at Harley-Davidson. We are skeptical that Mr. Zeitz, Mr. Linebarger, and Ms. Levinson will in fact step down from the Board in the next year, because we have heard these commitments before and they are never followed through on. However, even if Mr. Zeitz, Mr. Linebarger, and Ms. Levinson, are being truthful, and even if they plan to step down when a new CEO is found, then we are even more perplexed by several serious governance questions: Why are Mr. Zeitz, Mr. Linebarger, and Ms. Levinson fighting with their shareholders and wasting millions of dollars of shareholders' resources if they plan to leave the company anyway? Why would Mr. Zeitz, Mr. Linebarger, and Ms. Levinson selectively disclose non-public information to only certain shareholders? Why should shareholders allow Mr. Zeitz, Mr. Linebarger, and Ms. Levinson to select the next CEO, when shareholders have suffered $9 billion in equity value destruction over the course of the past two CEO succession processes they have overseen? 1 We urge shareholders to recognize that preserving the Board seats of Mr. Zeitz, Mr. Linebarger, and Ms. Levinson at the Annual Meeting represents a material threat to protecting and enhancing value. If Mr. Zeitz, Mr. Linebarger, and Ms. Levinson cannot be trusted to be transparent with all shareholders and stakeholders at this critical moment, how can anybody look past their questionable records and entrust them to make major decisions that will shape the future of Harley-Davidson? The reality is that they cannot be trusted. H Partners, which has a long-term and significant investment in Harley-Davidson, firmly believes that the Company will be far better positioned to identify an exceptional CEO and refresh the Board with impartial, qualified experts if Mr. Zeitz, Mr. Linebarger, and Ms. Levinson are no longer dominating the boardroom.' *** Shareholders can be part of returning Harley-Davidson to greatness by voting ' WITHHOLD ' on the BLUE proxy card for the election of three of Harley-Davidson's long-tenured incumbent directors – CEO and Chairman Jochen Zeitz, Presiding Director Thomas Linebarger, and 29-year director Sara Levinson – at the Company's Annual Meeting. Two independent proxy advisory firms – Glass, Lewis & Co. and Egan-Jones Ratings Company – have recommended that Harley-Davidson shareholders vote ' WITHHOLD ' on long-tenured Mr. Zeitz, Mr. Linebarger, and Ms. Levinson at the Company's upcoming Annual Meeting scheduled for May 14, 2025. Visit for additional information about H Partners' campaign, including how to vote on the BLUE proxy card. *** About H Partners Management H Partners Management, LLC is an independent investment firm founded in 2005 based in New York City. IMPORTANT INFORMATION FOR SHAREHOLDERS Harley-Davidson shareholders who have not yet received our proxy material and want to support H Partners' campaign today may vote ' WITHHOLD ' on the Company's WHITE proxy card or voting instruction form. If shareholders have already voted using the Company's WHITE Proxy Card or voting instruction form or had their vote taken over a recorded line on the telephone, a later-dated vote on either the Company's WHITE voting forms or our BLUE proxy card or voting instruction form will revoke your previously cast vote. Only your latest dated vote counts. Additional Information H Partners, together with the other participants in its proxy solicitation (collectively, 'the Participants'), has filed a definitive proxy statement and accompanying BLUE proxy card with the Securities and Exchange Commission ('SEC') to be used to solicit proxies in connection with the Annual Meeting. Shareholders are advised to read the proxy statement and any other documents related to the solicitation of shareholders of the Company in connection with the Annual Meeting because they contain important information, including information relating to the Participants. These materials and other materials filed by H Partners with the SEC in connection with the solicitation of proxies are available at no charge on the SEC's website at The definitive proxy statement and other relevant documents filed by H Partners with the SEC are also available, without charge, by directing a request to the Participants' proxy solicitor, Saratoga Proxy Consulting, at its toll-free number (888) 368-0379 or via email at info@
Yahoo
25-04-2025
- General
- Yahoo
How did your school district score according to TEA in 2022-23?
TYLER, Texas (KETK)–The score given to Nacogdoches ISD by the state is not accurate, according to the district. The Texas Education Agency rates each school district with a letter grade from A-F, while, the criteria are based on standardized test scores, academic growth, college and career readiness. Ten school districts received a 'D' rating including Nacogdoches, Jacksonville, Crockett, Palestine- Westwood, Liberty- Eylau, Murchison, San Augustine, Trinity, Rains and Grapeland ISDs's. One district, Nacogdoches ISD says they are 'disappointed' about its 'D' rating. 'The district does not oppose testing at the end of the year to measure student progress. STAAR exams in grades three through eight and the end-of-course exams for high school students provide valuable feedback to teachers and campus administrators. The reports are granular, allowing individual students to be identified that need assistance and we used that data two years ago to guide instruction for students moving forward,' Nacogdoches Communications, Les Linebarger said. Seven districts received and 'A' rating including Springhill, Carlisle, Wells, Broaddus, Maud, Pleasant Grove and the UT Tyler University Academy. Longview and Lufkin ISD's received a 'B' and Tyler ISD received a 'C' score. 'It's also important to point out the ratings don't reflect the full picture of Nacogdoches ISD,' Linebarger said. 'These accomplishments don't simply happen when students reach high school. It's due to the support and guidance received along the way, beginning in kindergarten, and progressing through elementary and middle school.' Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
17-04-2025
- Business
- Yahoo
Major investor in Harley-Davidson wants CEO, two others removed from the board
A major shareholder in Harley-Davidson is calling for significant changes to the company's board, arguing CEO Jochen Zeitz and two other longtime members should be removed. H Partners Management on Wednesday said it was asking other Harley-Davidson shareholders to cast "withhold" votes at the upcoming shareholder meeting in May when the re-election of Zeitz and two other board members, Thomas Linebarger and Sara Levinson, goes up for a vote. The firm's stake in the motorcycle company amounts to approximately 9.1%. One of its principals, Jared Doureville, was on Harley-Davidson's board from February 2022 until earlier this month, when he resigned. Shareholders voting to "withhold" would be "sending a strong message to the Board that they are dissatisfied with the status quo and that meaningful change is required," the investment firm said in a filing with the Securities and Exchange Commission (SEC). In a publicly-available letter, H Partners advocated for Harley-Davidson's board to "immediately remove" and replace Zeitz with an interim CEO "until an external, permanent CEO is selected." "We believe an absentee CEO who has already announced his intention to retire should not be making decisions that could affect the long-term prospects of the business," the investment firm said. "We also believe that the current Board, which is tightly controlled by a small number of entrenched Board members, cannot be trusted to oversee crucial decisions, including CEO succession." Read On The Fox Business App Earlier this month, Harley-Davidson revealed it was in the midst of the process of finding a new CEO to take over for Zeitz, who informed the board in the final quarter of last year that he wanted to retire. H Partners says the motorcycle company experienced "poor performance" because of an "inability to course-correct" that it partly blamed on Zeitz and Linebarger. It alleged the two "have not been fully transparent with the rest of the Board." Zeitz, Linebarger and Levinson are "entrenched" and are "unable to hold each other accountable for poor performance," it further claimed. H Partners said in its SEC filing that it was "deeply concerned that if the Board — as currently constituted — were to select the new permanent CEO, there will be a continuation of the Company's current strategic direction and further destruction of significant shareholder value." Daytona Beach Bike Week Thrives Despite Some Economic Uncertainty As of Wednesday, shares of Harley-Davidson have fallen over 24% since the start of the year. Over the past 12 months, they have posted a 42.7% decline. "We believe it is imperative to find a leader who will repair the relationship with dealers, engage with riders, respect and strengthen the brand, improve the corporate culture, restore the physical presence of the Company at its historic Milwaukee headquarters, and return Harley-Davidson to greatness," H Partners said in its letter to shareholders. A Harley-Davidson spokesperson said in a statement to FOX Business that it was "disappointed that H Partners has chosen to take this self-serving action targeting members of our board after that firm's preferred CEO candidate failed to receive majority support from the Board's Independent Directors." "H Partners has chosen to put its own interest ahead of the interests of other shareholders by attempting to disrupt the Board's rigorous and thoughtful CEO transition process, creating uncertainty for and putting Harley-Davidson's future and shareholder value at risk," the spokesperson continued. "The Board is committed to acting in the interests of all of Harley-Davidson's shareholders by continuing to strengthen the Company's foundation for the future and selecting the right CEO to lead Harley-Davidson into its next chapter." In early February, the company said it generated $4.12 billion in revenue in 2024, a 14.9% decline year-over-year. Its annual net income, meanwhile, fell to $455.36 million. Zeitz said at the time that Harley-Davidson "saw our performance being significantly impacted by the continued cyclical headwinds for discretionary products, including the high-interest rate environment affecting consumer confidence" in 2024. Click Here To Read More On Fox Business The company's forecast for 2025 said its revenue would be "flat, to down 5%."Original article source: Major investor in Harley-Davidson wants CEO, two others removed from the board Sign in to access your portfolio
Yahoo
04-03-2025
- General
- Yahoo
East Texas school district approves new controversial state learning materials
NACOGDOCHES, Texas (KETK) – Nacogdoches ISD has approved new state-created teaching materials for their elementary schools. The lessons were approved last fall by the state board of education and have been criticized for focusing too much on the Bible. TOWNHALL TENSION: State reps booed off stage during education meeting 'It's the way best for us to move forward,' Nacogdoches ISD Chief Marketing and Communications Officer Les Linebarger said. Starting next fall, Nacogdoches ISD elementary schools will use the state's new Bluebonnet Learning instructional material. The Texas Education Agency said the lessons were developed using the best evidence on how to teach reading and math. Critics have said it's a state-written curriculum that overemphasizes Christianity and could isolate some children. 'I use the phrase all-encompassing,' Linebarger said. 'I mean, these materials cover the whole run of what takes place in the classroom and it really frees the teacher up then to work on how best to deliver that information to our students.' The lessons were created by the state and are now available online for educators to use. 'It'll free up our teachers to worry about what's most important in the classroom, how best to pass along these lessons to the students,' Linebarger said. School districts don't have to use it, but they will receive $60 per student if they do. Lufkin ISD did not put it up for vote, but discussed adopting the materials and possible benefits for teachers. East Texas Rep says school choice will pass in State House 'It provides them with every piece of material they would need to teach their lesson so they would not have to pull from this resource or this resource or create on their own time,' Assistant Superintendent of Education Services and Accountability for Lufkin ISD Shelly Slaton said. The district decided to not move forward with the vote on Bluebonnet Learning after hearing community feedback and concerns. 'There are some lessons that include stories from the bible, but also from the other world religions as well,' Linebarger said. Nacogdoches will implement these learning materials starting this fall for math and language arts. 'We feel like there's a lot of positives in this, these instructional materials,' Linebarger said. Governor Greg Abbott called Bluebonnet Learning a 'critical step forward.' The TEA said there is no religious instruction in the lessons. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
