DOW JONES NEWSWIRES
Harley-Davidson Inc. (HOG) stripped the "interim" tag from John
Olin's title, 4 1/2 months after he began filling the duties of
chief financial officer.
He succeeds Tom Bergmann, who was passed over in becoming the
motorcycle maker's chief executive. Former Johnson Controls Inc.
(JCI) head Keith Waddell was tapped instead.
Olin joined Harley-Davidson as controller in 2003, a position he
held until Friday's announcement. Waddell said Olin was tapped to
be CFO after a review of both internal and external candidates.
Before joining Harley-Davidson, Olin spent a dozen years in
financial roles at such consumer-products companies as Kraft Foods
Inc. (KFT).
Harley-Davidson has been suffering amid the ongoing drop in
motorcycle demand. The company in July reported a 91% plunge in
second-quarter earnings as the company cut its 2009 shipment
forecast again and announced another 1,000 job cuts.
Shares were recently down 9 cents at $24.59. The stock is up 45%
this year.
-By Kevin Kingsbury, Dow Jones Newswires; 212-416-2354;
kevin.kingsbury@dowjones.com