The king is stepping back, but not too far. After 33 years at the helm, Stefan Pierer has officially resigned from KTM AG, leaving CEO Gottfried Neumeister to clean up the mess. The company has been in self-administration since November, weighed down by more than €2 billion in liabilities.
The plan? Pay creditors a 30% cash quota—about €548 million—while scrambling to raise €800 million in fresh capital. Meanwhile, KTM’s production lines have been idle since mid-December.
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