Harley-Davidson President and CEO Keith Wandell Financial Compensation. His total compensation in 2011 rose nearly 13 percent to about $7.2 million, compared with $6.4 million in 2010. He opted not to have his base salary increased according to a proxy statement filed with the U.S. Securities and Exchange Commission. In 2011 Wandell received a salary of $975,037 equal to his salary in 2010. He also received total cash bonus payments, both discretionary and performance-based, totaling more than $2.8 million compared with cash bonus payments of about $2.3 million in 2010.
His stock awards were valued at $1.5 million, compared with $1.4 million in 2010, while his option awards were valued at $1.7 million, compared with $1.6 million the previous year. Wandell also received other compensation totaling about $175,000 in 2011, compared with about $84,000 in 2010. The payments included $29,600 in lieu of receiving certain perquisites and personal benefits, non-qualified deferred compensation plan contributions of $68,466, 401(k) plan contributions of $31,850, and life insurance premiums of $13,727. He also received additional benefits that totaled $25,478 consisting of financial planning services, personal use of company aircraft and clothing..
Since his arrival at Harley-Davidson 3 years ago, Keith Wandell focused on a complete restructuring of the company and modernization of the plants. He launched a job reduction program eliminating 1,900 jobs at the York plant (50% of the workforce), bringing an estimated $217 million in savings for the company in 2011. Last year the top five executives at Harley-Davidson Inc. received discretionary and performance based bonuses totaling $5.7 million.
Triumph Motors Plans To Set Up Bike Assembly Plant In India. UK-based Triumph Motorcycles plans to set up a bike assembly plant in the southern State of Karnataka, and may start assembling bikes well within a year. The company signed a memorandum of understanding (MoU) with the Karnataka Government a month ago. One of the pre-requisites for the location has been proximity to a port for both importing completely knocked-down (CKD) kits and later exporting bikes, if required. The Indian plant will help Triumph price its models more competitively in the world’s second-largest two wheeler market. This strategy follows the one pursued by Harley-Davidson which started similar operations at a facility in Haryana last year. Triumph intends to locally assemble the Bonneville, Street Triple, Speed Triple and Daytona 675 models. Later, it may consider full manufacturing as well.