Never hang a leather jacket. I gently fold all of mine and put them into containers (with holes for the air to cuirculate). That hanger shape should come out with time, particularly if you wear it a bit - your body heat will help "iron" the jacket into shape.
I could be wrong, DVD, but it looks like you were hanging the jacket on a skinny clothes hanger. You can find wide, wooden hangers online that are 2-3 inches wide and about 19 inches long. I've never ended up with bumps from the ends of the hangers or any other problems. Three of my jackets are close to 7 lb and they've been hanging for years with no problems at all.
Here's a little advice on how to hang leather jackets. It's how I hang ALL of mine, as it really takes care and is gentle on them. Basically, just fold a towel into sections and drape it over a larger hanger (larger than wire) and it broadens the contact area greatly, sort of simulating shoulders, and prevents hanger marks/lines completely.
Many thanks for all the tips. The jacket had been hanging on its large Belstaff hanger but I've now been provided with a motorbike Belstaff hanger which is larger and has more padding.
The reason for it sitting on its hanger for so long is I don't have spare shelf space and I have to rotate my jacket collection to give them all a bit of an airing. As a result, it hasn't been that much action recently.