Ryan Morrissey will remain with
LiveWire Group after the company named a new chief executive officer earlier this year.
LiveWire is a publicly-traded spinoff from Harley-Davidson focused on making electric motorcycles. Harley still owns the vast majority of the company’s stock.
In June, LiveWire announced the appointment of
Karim Donnez as chief executive officer. Donnez, previously president of the marine group at Quebec-based BRP, replaced
Jochen Zeitz as CEO. Zeitz is also CEO of Harley-Davidson and remains chairman of both companies.
Morrissey had served as president of LiveWire Group since it was spun off from Harley.
Earlier this month, the company announced he would remain with the company as president, venture and investments. In connection with the naming of Donnez as CEO, Morrissey's responsibilities have been refocused to business development and LiveWire’s investment strategy.
LiveWire has seen limited sales this year with just 96 units sold through wholesale or company owned retail during the first half of the year, down from 322 for the first half of last year. Most of the company’s $7 million in revenue has come via sales of electric balance bikes for kids under the Stacyc brand.
Stacyc sales have been down this year too, totaling 16,434 units in the first half of this year compared to 24,930 for the first half of last year.
For the first half of this year, LiveWire has reported a nearly $57 million operating loss from its electric motorcycle business, up from a roughly $37 million loss for the first half of 2022.
The company says its results are expected to improve during the second half of this year behind the expansion of the LiveWire motorcycle to Europe and the launch of the S2 Del Mar, a model with a lower price than the original LiveWire One model.
