Bryan's Blog

The newest leader of American motorcycle manufacturer Harley-Davidson, Keith Wandell, received a pay package valued at $6.4 million in 2009, according to a regulatory filing. The majority of it comes in the form of stock and option awards, which tally up to $4.9 million. His base salary, starting from May 1 and ending Dec. 31, was $650,025, to go along with a bonus of $780,030. Other compensations for the Harley CEO totaled $22,515. Not a bad chunk of change for only eight months of work.

Wandell took over for James L. Ziemer, who headed The Motor Company for four years but was with H-D for 40 years. Ziemer lived and breathed Harley-Davidson. Wandell’s appointment wasn’t without controversy. Wandell was formerly the chief operating officer at Johnson Controls Inc., where he worked for 21 years. Johnson Controls Inc. has built its reputation by making ventilation systems for buildings and car batteries. Heck, Wandell even admitted on a Q&A with Trading Markets.com that he rode motorcycles when he was young, but wasn’t even necessarily a motorcyclist at the time of his hiring.

This report comes on the heels of Harley-Davidson’s dismal 2009 financial results. The company finished with a $55.1 million net loss on the year and a fourth quarter net loss of $218.7 million. The company also axed Buell Motorcycles, is looking to sell MV Agusta, a company it purchased but never developed, and enacted widespread company layoffs. Only restructured contracts and the willingness of the townspeople of York, Pennsylvania to compromise or face a full plant closure saved the long-time Harley plant there.

Wandell has also been an elusive figure. Our proposal for an interview and an opportunity to give a rebuttal to the Erik Buell interview we published was denied, and when I saw Wandell recently at the Harley-Davidson Ride In Custom Bike Show he conveniently disappeared while I was trying to write down a few questions to ask Harley’s new CEO. Coincidence? I don’t think so.

I’m sure Wandell has paid his dues and deserves big money. He stepped in at a difficult time in The Motor Company’s history and its current financial situation is not his fault. I understand his base salary and the stock options he was awarded, but what has he done so far to warrant a $780,030 bonus? I wonder how this sits with the workers in York. And being a CEO of a company is all about accountability. I’m not the only one with questions for Wandell, but as far as I know, he hasn’t granted interviews with any other publications, either.

What about it, Keith? We’d love to talk to you. Inquiring minds want to know more about you and your vision for the company. Hit me up sometimes. I bark, but usually I don’t bite.