DOW JONES NEWSWIRES

Harley-Davidson Inc. (HOG) Chief Financial Officer Tom Bergmann will also serve as interim president of the company's financial services unit while the maker of iconic motorcycles searches for someone to fill that job.

Effective immediately, Bergmann succeeds Sy Naqvi, who resigned. Naqvi held that post since February 2007.

"In the current economic environment, HDFS is an especially important priority for us, and Tom has been highly involved in guiding that business," said Chief Executive Jim Ziemer.

Harley-Davidson, like many other manufacturers, relies heavily on its in-house financing unit to close sales. In an effort to contend with rising delinquencies, the unit, which provides loans for more than half of all Harleys sold and also provides dealer financing, recently raised costs on its consumer loans as much as one percentage point and has improved its origination and collection capabilities amid the recent credit crunch.

The Milwaukee company has been stung by slumping sales as the recession deepened in the U.S. and abroad.

The deteriorating performance at the financing unit played a big role in the overall 37% decline in Harley-Davidson's net profit in the third quarter. For 2009, the company has estimated that the financing unit has about $1.5 billion in net cash flow needs, which it hopes to fund through a combination of unsecured debt and asset-backed securitization.

Before joining Harley-Davidson as financial chief in 2006, Bergmann was the chief executive of USG Corp. (USG), a transportation and logistics company.

Harley-Davidson's shares were at $17.30, down 1.6%, in after-hours trading.

-By Kathy Shwiff, Dow Jones Newswires; 201-938-5975; Kathy.Shwiff@dowjones.com

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