KTM, a leading motorcycle manufacturer, is undergoing a significant restructuring process, which includes a major reshuffle of its supervisory board. Pierer AG, KTM’s parent company, has announced that Rajiv Bajaj, Stephen Zöchling, and Friedrich Roithner will resign from the board, effective after the next annual general meeting (AGM) on June 23, 2025. This move is part of a broader effort to restructure KTM and stabilize its operations.
Rajiv Bajaj, who is currently serving as deputy chairman, has played a crucial role in KTM’s restructuring process. Bajaj Auto Limited, which owns a significant stake in KTM, has infused 200 million euros into the company as part of a larger rescue package. The total debt funding arranged by Bajaj Auto International Holdings BV, a wholly-owned subsidiary of Bajaj Auto Limited, amounts to 800 million euros.
The resignation of the existing board members will make way for new appointees, including Dinesh Thapar, CFO of Bajaj Auto Limited, and Pierer AG’s legal advisors, Ernst Chalupsky and Ewald Oberhammer. This change in leadership is expected to signal a deeper integration between Bajaj Auto and Pierer AG, as they work together to revive KTM’s operations.
The restructuring process is aimed at stabilizing KTM’s finances and positioning the company for a strategic revival. With fresh leadership and renewed funding, KTM is expected to focus on its core business and drive growth in the motorcycle market. The move is seen as a positive step towards securing the future of the brand and enhancing its competitiveness in the global market.
The departure of the existing board members and the appointment of new leaders marks a significant milestone in KTM’s restructuring journey. As the company moves forward with its new leadership, it is expected to make significant strides in reviving its operations and achieving long-term success. With the support of Bajaj Auto Limited and Pierer AG, KTM is poised to emerge stronger and more resilient, ready to take on the challenges of the ever-evolving motorcycle industry.