Coming off the third-straight record year for Polaris, CEO Scott Wine has just gotten a resounding vote of confidence from the company’s Board of Directors, and has been elected to Chairman of the Board at Polaris Industries. Wine replaces former-Chairman Greg Palen, who had served in the position of chairman for 11 of his 20 years on Polaris’ Board of Directors.
“I would like to congratulate Scott on his election to serve in the additional capacity of Chairman of the Board,” said Palen. “Under his leadership, Polaris has delivered consistent and profitable growth while successfully executing the company’s ambitious strategy, generating record results and shareholder returns.”
“Scott has accomplished tremendous things since he started in 2008, but I am convinced that the best is yet to come for Scott and the Polaris team. Scott’s stellar track record as CEO of Polaris, coupled with his experience sitting on the Boards of Polaris and Terex, leaves me confident that the role of Chairman will be in good hands,” he continued.
Under the leadership of Wine, Polaris has made strategic investments and purchases into a bevy of companies, including Brammo, GEM, Klim, Swissauto, and most famously the Indian Motorcycle brand. These strategic plays have well-positioned Polaris to have a robust horizontal offering in the powersports industry, in both its gas and electric powered sub-divisions.
Set to release the first “new” Indian Motorcycle later this year, Wine has positioned Polaris to compete head-to-head with Harley-Davidson in the heritage cruiser market, while continuing to push Victory Motorcycles on the performance cruiser side of the coin.
In its announcement of Wine’s election to Chairman of the Board, Polaris also noted the departure of board member Bob Caulk, and the addition of John Wiehoff as Lead Director.