8 • June 2025 • Powersports Business

Patrick Industries, a component solutions provider for marine and powersports markets, has announced that Jake Petkovich will rejoin Patrick as president of its marine division, the company announced in a statement on May 19.

“ We are thrilled to welcome Jake back to the Patrick family,” says Andy Nemeth, CEO of Patrick Industries.“ Jake is an experienced, driven outdoor enthusiast and leader who knows our marine businesses well and brings passion, energy, and proven strategic and financial acumen to this role.

Petkovich originally joined Patrick in 2018, following the company’ s acquisition of Marine Accessories Corp. Since then, Nemeth says he has helped lead the successful integration and growth of several marine businesses, establishing a solid foundation of innovation, performance, and service within Patrick’ s marine platform.

Petkovich recently served as chief financial officer at Indicor, LLP, a global industrial solutions company. He previously served as executive vice president of finance, CFO and treasurer of Patrick from 2020 to 2023.

During his tenure, he was instrumental in driving the company’ s financial strategy, guiding capital allocation, including developing a significant number of the company’ s marine acquisitions, and enhancing operational efficiency.

Petkovich’ s return is expected to further accelerate the growth trajectory of

Patrick’ s marine segment, leveraging his deep industry expertise and strong relationships across the sector. His leadership will focus on expanding market share, strengthening customer partnerships, and fostering a culture of continuous improvement.

Patrick Industries is a publicly traded company specializing in component solutions serving the RV, marine, and powersports markets.( Photo: Patrick Industries)

The company emphasized its confidence in Petkovich’ s ability to align strategic initiatives with long-term value creation. As the marine industry continues to evolve, Patrick Industries aims to stay at the forefront through innovation and leadership.

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tional efficiency and brand management was necessary for Harley-Davidson’ s recovery.

THE BOARD’ S DEFENSE In response, Harley-Davidson’ s leadership doubled down on its commitment to change. CEO Jochen Zeitz, who took the helm in 2020 and has since been credited with steering the company toward a more sustainable, innovative future, defended the restructuring strategy and its focus on adapting to a changing market.

“ While we deeply respect the opinions of all our shareholders, it’ s clear that the road ahead requires a fundamental shift,” Zeitz said in his remarks following the vote.“ The world is changing— consumers are changing, and our brand needs to evolve. We’ re committed to preserving the essence of Harley-Davidson while embracing new opportunities for growth and sustainability.”

Zeitz emphasized that the company would continue to engage with its core customers while also expanding its appeal to new generations of riders, noting that the company had already made strides in improving quality and customer satisfaction.

CLEAR MANDATE Despite H Partners’ vocal opposition, the board’ s proposed changes were approved by a substantial majority of shareholders, with 82 % voting in favor of the new strategic direction. However, the result wasn’ t unanimous, and H Partners has made it clear that they will continue to challenge the board’ s decisions moving forward.

While H Partners did not succeed in their bid to oust any board members at this meeting, the hedge fund has hinted at further efforts to push for change, suggesting that they may rally additional shareholders for future votes.

LOOKING FORWARD While Harley-Davidson’ s board and management team are celebrating their victory, the company’ s future remains uncertain. The motorcycle industry is undergoing a seismic shift, and Harley-Davidson’ s transition into electric motorcycles and its efforts to capture younger, more diverse riders will likely face significant challenges.

The rise of electric vehicles presents both an opportunity and a risk. While it could unlock new growth markets, it also threatens to dilute Harley-Davidson’ s iconic identity as a maker of rumbling V-Twin cruisers and heavyweight touring bikes. The question remains whether the brand can successfully balance its storied history with the demands of a changing world.

As the company moves ahead with its ambitious plans, all eyes will be on Harley-Davidson’ s performance over the next few quarters.