By Bud Wilkinson of RIDE-CT.com
Last year was a good year for Harley-Davidson, and for those in the corporate offices. H-D’s top five executives received discretionary and performance-based bonuses of almost $5.7 million, with CEO Keith Wandell getting more than $2.8 million.
Wandell’s total compensation for 2011, which includes stock awards, was $7.23 million, up nearly 13 percent from 2010, according to a filing with the Securities and Exchange Commission. Harley produced a profit of $599.1 million in 2011, up from $146.5 million in 2010. It shipped 233,117 bikes last year.
Harley’s success can be traced to a restructuring initiated by Wandell, which realized $217 million in savings for the company but which also trimmed more than half of the work force at the company’s assembly plant in York, PA.
In other business news, Motorsports Aftermarket Group (MAG) yesterday announced the acquisition of Oregon-based Motorcycle Superstore. MAG already owns J&P Cycles, Vance & Hines, Progressive Suspension and Terryville, CT-based Mustang Seats.