Harley-Davidson Names Topgolf Chief Artie Starrs as New CEO

The motorcycle maker is tapping Starrs to steer a turnaround amid falling sales and a financial overhaul.

Three Harley-Davidson riders pull into downtown Sturgis, South Dakota, on June 17, 2023. Allan Stein/The Epoch Times

Harley-Davidson has named Artie Starrs, chief executive of Topgolf, as its new president and CEO, as the storied motorcycle maker seeks to reinvigorate growth following a sharp sales slump and a major restructuring of its finance arm.

Starrs will succeed Jochen Zeitz, who has led Harley since 2020 and will remain as chairman until stepping down in October, then serve as senior adviser through February 2026, the company said in an Aug. 4 announcement. The board also appointed former Starbucks executive Troy Alstead—currently serving as presiding director of Harley-Davidson—to replace Zeitz as chairman.

“Artie is an accomplished business leader who brings extensive experience managing strong brands and global operations,” Alstead said in Monday’s announcement. “His track record of delivering top and bottom-line growth, combined with his experience in franchise-driven industries, are both huge assets for Harley-Davidson at this time.”

Starrs, 47, joins from Topgolf Callaway Brands, where he oversaw more than 100 global venues and 30,000 employees, expanding the sports entertainment chain’s revenue by more than 50 percent to $1.8 billion. He previously served as global CEO of Pizza Hut, where he steered the chain’s growth to more than 18,000 locations in 110 countries.

“It’s a huge privilege to be joining Harley-Davidson as President and CEO, and I am grateful for the opportunity to help steward this incredible company,” he said in the announcement. “I have long admired the unique position Harley-Davidson has in the hearts of its riders and fans; there is no brand that brings the same level of community and rebellious spirit as Harley-Davidson.”

The leadership shake-up comes as Harley navigates a prolonged downturn in motorcycle demand and shifting consumer preferences. The company recently reported second-quarter revenue of $1.31 billion, down 19 percent from a year earlier, with motorcycle shipments plunging 28 percent and retail sales falling 15 percent worldwide. Operating income dropped 53 percent, and diluted earnings per share fell to 88 cents from $1.63 a year earlier.

Harley attributed the decline to planned inventory reductions and “soft demand,” compounded by new tariffs that added $13 million in costs during the quarter. Its U.S. market share in large motorcycles slipped to 32 percent in the second quarter from 36 percent in the January-March period, though it retained dominant positions in touring and cruiser segments.

Alongside earnings, Harley recently unveiled a major overhaul of its finance unit, Harley-Davidson Financial Services (HDFS), striking a partnership with investment giants KKR and PIMCO. The deal, valued at about 1.75 times book value, will convert HDFS into a “capital-light” model by selling more than $5 billion of retail loan receivables and two-thirds of future loan originations to the partners at a premium.

The transaction is expected to unlock roughly $1.25 billion in cash—equal to about 43 percent of Harley’s market capitalization—to fund $500 million in share buybacks, reduce debt by $450 million, and invest in growth initiatives.

Zeitz, credited with crafting Harley’s five-year “Hardwire” turnaround plan and steering the brand through the pandemic, said in a statement that his time at the helm of the company was “an honor” and said the company is positioned for a “strong foundation” under Starrs’s leadership.

“I’m incredibly proud of what we’ve achieved together, and I want to thank the Board, the Harley-Davidson leadership team, and all our employees for their unwavering dedication and hard work,” Zaitz said. “I wish Artie every success as he leads Harley-Davidson into its next chapter.”