In 1903, William Harley and three (Arthur, Walter, and William) Davidsons built the first Harley Davidson motorcycle. In 1907, Harley Davidson incorporated, with Walter Davidson becoming the first president. After being one of only two American motorcycle companies to survive the Great Depression, and thriving in the Second World War, Harley Davidson went public in 1965. Subsequent struggles led to AMF purchasing the company in 1969. After poor business decisions, leading to a decline in quality, Harley Davidson was sold to investors led by Willie Davidson, grandson of founder William Davidson, in 1981. The current CEO and President is Jochen Zeitz.