By Svea Herbst-Bayliss

NEW YORK (Reuters) -Harley-Davidson (HOG) on Wednesday beat back investor H Partners' proposal to remove three directors, including the CEO, the company said in a statement.

The victory for Harley comes roughly one month after H Partners, the second-largest investor in the motorcycle maker with a stake of 9.1%, stepped up its campaign to immediately push out Jochen Zeitz, who has run the company since 2020.

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The company did not detail the vote tally and one source familiar with the numbers said it was a "razor-thin outcome" for Zeitz.

Proxy advisory firm Institutional Shareholder Services, whose recommendations often influence how shareholders vote, said H Partners failed to make "a compelling case for change" and urged investors to elect all of the company's directors.

H Partners has criticized the company for declining sales and a falling stock price and has pushed to replace Zeitz with an external candidate.

Zeitz is expected to retire this year but has said he would stay until a replacement was found.

Shares of Harley, valued at $3 billion, have dropped 31% over the past year as the company struggles to appeal to new generations of riders. On Wednesday, Harley shares dipped 0.3% to close at $24.92.

The voting results were first reported by the Wall Street Journal.

(Reporting by Svea Herbst-Bayliss in New YorkEditing by Matthew Lewis)

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