“Screw it, let’s ride get the TopGolf guy…” - Harley-Davidson

Harley-Davidson just handed the keys to its 120-year-old death machine to a guy who used to sell stuffed crust and drive range cocktails. Arthur Starrs, former CEO of Topgolf and Pizza Hut, will take over the iconic motorcycle brand starting October 1. His job? Simple, do things he didn’t do very well at his previous company like reverse declining sales, dodge tariff headwinds, and keep the company from collapsing into the pit it’s been playing just the “tip” with for years. 

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To be fair, I’m sure this hire won’t be the weirdest thing you’ll see from Harley this year, but it’s up there. Especially considering the company is fresh off their move of selling $5 billion in loans to KKR and PIMCO in a desperate bid to pay down debt while pretending everything’s fine. The same Harley that’s bleeding market share, quietly scrapping its EV dreams, and trying to sell $6,000 starter bikes to Zoomers who think loud pipes are a microaggression. And now it’s bringing in a dude who made his name selling beer buckets to bachelor parties. Alright, alright… all jokes aside…

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While Starr’s success at TopGolf was less than satisfactory, he’s still a seasoned operator who kept Pizza Hut alive long enough to slap its name on a few stadiums. But Harley isn’t slinging mozzarella sticks. It’s trying to survive the long, humiliating death spiral of American manufacturing pride… while pretending that moving some of their production to Thailand still means “Murica! 

For more context, Jochen Zeitz, the outgoing CEO, barely survived an activist shareholder revolt earlier this year. He’s walking away after five years of "Hardwire" strategy… a buzzword buffet of selective expansion, electric bikes no one bought, and a market pivot toward “inclusive stakeholder management,” whatever that means. And yet, he’ll remain as a senior advisor to ensure a smooth changing of the guard. 

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With that said, Harley’s core audience… a.k.a, aging Boomers with fading tattoos and even faster-fading hearing… is shrinking. The company is betting on the 2026 “Sprint,” an entry-level sub-$6,000 bike, to somehow appeal to younger riders who grew up thinking Harley was their uncle’s midlife crisis. Meanwhile, the LiveWire division, Harley’s electric hand… is literally dying, presumably because no one wants to hear the roar of silence at 70mph. To which, I 100% agree. 

But hey, maybe Starrs has something up his sleeve that we don’t know about. Regardless though, the mountain to climb is steep. Not only are shares down -33% over the last 12 months… but factor in a storm of tariffs, falling unit sales, a disillusioned dealer network, and the slow-motion collapse of Harley’s core mystique… and he better be getting one helluva comp package to take on this clusterf**k. 

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Meaning, if he pulls it off, he’ll be something that legends are written about. If he doesn’t? Well, there’s always room for another TopGolf and Pizza Hut somewhere. Of course, only time will tell how this all shakes out… but either way, it’s a catalyst to watch for as October 1st approaches. So yeah, for now, keep your eyes on Harley-Davidson and place your bets accordingly. Until next time, friends… 

At the time of publishing, Stocks.News holds positions in companies mentioned in the article.