In an official release, Pierer AG, KTM’s parent company, has announced that Rajiv Bajaj, Stephen Zöchling and Friedrich Roithner will resign from the brand’s supervisory board.
- KTM undergoes a major board reshuffle as part of its restructuring
- Rajiv Bajaj and two others to exit Pierer AG’s supervisory board
- Bajaj has infused 200 million euros, part of a larger rescue package
Pierer AG’s reshuffle will take place at the next AGM
This move is part of a broader effort to restructure KTM
In a bid to restructure, Pierer AG has announced that Rajiv Bajaj, currently serving as deputy chairman, along with chairman Stephen Zöchling and Friedrich Roithner, will step down from the supervisory board. This change will take effect following the next annual general meeting (AGM) on June 23, 2025.
Standing for election to replace them are Dinesh Thapar (CFO of Bajaj Auto Limited), and Pierer AG’s legal advisors, Ernst Chalupsky and Ewald Oberhammer.
Bajaj Auto Limited owns a wholly owned subsidiary in the Netherlands, Bajaj Auto International Holdings BV (BAIHBV). As part of KTM’s ongoing restructuring, BAIHBV has arranged 800 million euros (over Rs 7,700 crore) in debt funding to help KTM clear dues and revive operations. Of this, 200 million euros (over Rs 1,900 crore) has already been infused in four tranches of 50 million euros each.
This reshuffle signals a deeper integration between Bajaj Auto and Pierer AG as they work to stabilise KTM. With fresh leadership and renewed funding, the brand is aiming for a strategic revival.
Also see: Bajaj secures a Rs 5,445 crore loan for KTM
Bajaj announces intention to take over KTM