Investing.com-- A major Harley-Davidson Inc (NYSE: HOG ) shareholder is preparing a campaign to overhaul the motorcycle maker’s leadership, seeking to oust CEO Jochen Zeitz and two long-serving board members, The Wall Street Journal reported on Tuesday citing people familiar with the matter.

Investment firm H Partners, which holds a roughly 9% stake in Harley, plans to urge shareholders to withhold votes for Zeitz and directors Thomas Linebarger, Sara Levinson, at the company’s annual meeting in May, the WSJ report said.

H Partners is calling for Zeitz’s immediate resignation, arguing the company needs an external replacement who can better connect with customers and dealers, WSJ reported.

Zeitz has served as CEO since 2020 and previously signaled plans to retire.

Jared Dourdeville, an H Partners executive who recently resigned from Harley’s board, had criticized the company’s work-from-home culture and leadership turnover, warning of “cultural depletion", according to the report.

Harley responded to this by saying the activist campaign could disrupt its CEO search and long-term strategy, the report stated.

Harley shares have fallen about 30% under Zeitz’s tenure, with sales continuing to decline despite efforts to stabilize the business, the report added.