Thursday, 26 November 2020

Polaris Chairman and CEO Scott Wine to leave for new challenge at end of 2020

 Polaris Chairman and CEO Scott Wine to leave for new challenge at end of 2020

Minneapolis based Polaris Industries Inc., the parent company of Indian Motorcycle and market leading snowmobile, ATV/UTV and PWC manufacturer, has confirmed that long-time CEO and Chairman Scott Wine has decided to leave the company at the end of December to take up the CEO position at Case New Holland - the London headquartered, NYSE traded $28bn a year turnover agricultural equipment and On-Highway transport vehicle manufacturer.

As Chairman and CEO of Polaris, Scott Wine oversaw the acquisition of Indian Motorcycle and saw annual sales more than triple in his twelve years from $1.9bn to around $7bn.

Wine, 53 and a former U.S. Navy officer, joined Polaris twelve years ago. He steered Polaris through the 2008-2010 global financial crisis and has masterminded sales growth in that time from some $1.9bn to around $7bn last year - higher than primary motorcycle rival Harley-Davidson - and establishing Polaris as a global powersports industry powerhouse.
The growth propelled Polaris into the Fortune 500 (PII) and established the company as America's leading powersports industry manufacturer. It was under Wine's management that Polaris bought Indian Motorcycle in 2011. Wine drove a strong, some would say aggressive, mergers and acquisitions programme during his time. He leaves Polaris with a portfolio of 30+ active brands and having just pushed the button on an innovative relationship with Zero to drive vehicle electrification across several Polaris markets.

"For the last twelve years, I have had the extraordinary honour of leading the best team in powersports, and it is incredibly rewarding to reflect on all that we have accomplished together," said Wine. "I am most proud of the team and the culture that have made working here so gratifying. Having witnessed first-hand the ingenuity, passion and drive that permeates the company, I leave with complete confidence that Polaris' future is bright. I also want to offer my sincere thanks to my incredibly talented colleagues and to the Polaris Board for their guidance and leadership during my tenure."

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