P1racenews AI automatic summary:
Stefan Pierer has stepped down from his role on the KTM board and has handed over the management of KTM AG to Gottfried Neumeister.
KTM’s restructuring plan was approved by creditors on February 25th, requiring the brand to pay €548 million by May 23rd. The brand’s survival prospects brightened with nearly €900 million in investments from external sources. Stefan Pierer, who established the Pierer Mobility Group in 1987, played a crucial role in KTM’s management for over three decades before stepping down with the finalization of the restructuring plan. Pierer praised Gottfried Neumeister, his successor, expressing confidence in Neumeister’s ability to steer the company successfully forward. Neumeister, the new CEO, acknowledged Pierer’s legacy and emphasized the importance of collaboration with KTM’s dedicated workforce in leading the company to new horizons. Verena Schneglberger-Grossmann, previously the head of the legal department, was appointed to the board and lauded for her role in the restructuring process, with Neumeister expressing confidence in her future contributions.
