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Polaris Hires Retail Executive, Strengthens
Adjacency Focus
New leadership
for Parts, Garments and Accessories facilitates
strong focus
on Small Vehicles, enabling
accelerated growth for each business
MINNEAPOLIS (February 6, 2012) — Polaris
Industries Inc. (NYSE: PII) today
announced the hiring of Steve Eastman, former
president of Target.com, to lead its Parts,
Garments, and Accessories (PG&A) business.
This appointment allows Scott Swenson, who
previously ran both PG&A and the Company’s Small
Vehicles business, to focus his attention on
establishing a strong Polaris presence in the $4
billion small electric vehicle market.
After a record year in 2011, Polaris expects
these businesses to strongly contribute to its
future success.
“Our Small Vehicles and Parts, Garments and
Accessories businesses are vital to the
company’s success and we are committed to
pursuing growth in these markets,” said Scott
Wine, Polaris CEO. “In order to achieve
these aggressive goals, we need talented leaders
dedicated to each business. Hiring Steve
to lead PG&A, thereby allowing Scott to devote
his efforts to Small Vehicles, puts two strong
executives in position to drive outstanding
results.”
Polaris anticipates rapid growth in its PG&A
business during 2012. Eastman will lead
this work as vice president of Parts, Garments
and Accessories. Eastman is an innovative
leader with more than 30 years of business
experience. In his most recent position,
as president of Target.com, he was responsible
for growing and managing a $1.3 billion business
and leading a team of more than 1,000 global
employees. While at Target, he managed
strategy development and execution,
merchandising, operations, distribution channel
management, marketing, and e-commerce,
experience that will be directly relevant to his
new position with Polaris.
Scott Swenson was promoted to vice president
of Small Vehicles in 2011, while retaining his
existing role as vice president of Parts,
Garments & Accessories. Eastman’s hiring
transitions Swenson out of PG&A, allowing him to
focus on building the Small Vehicles business, a
critical component of Polaris’ long-term
strategy. Swenson began his Polaris career
as Assistant Treasurer in 1998 and his
leadership has been instrumental in the success
of the Company’s snowmobile and PG&A businesses.
He will continue to lead Polaris’ retail
financial services group.
About Polaris
With annual 2010 sales of $1.99 billion, Polaris
designs, engineers, manufactures and markets
off-road vehicles (ORVs), including all-terrain
vehicles (ATVs), the Polaris RANGER® Side x
Sides, snowmobiles and Victory motorcycles for
recreational and utility use and has recently
introduced a new on-road electric powered
neighborhood vehicle.
Polaris is a recognized leader in the snowmobile
industry; and one of the largest manufacturers
of ORVs in the world. Victory motorcycles
established in 1998 and representing the first
all-new American-made motorcycle from a major
company in nearly 60 years, are rapidly making
impressive in-roads into the cruiser and touring
motorcycle marketplace. Polaris also enhances
the riding experience with a complete line of
Pure Polaris apparel, accessories and parts,
available at Polaris dealerships.
Polaris Industries Inc. trades on the New York
Stock Exchange under the symbol “PII,” and the
Company is included in the S&P MidCap 400 stock
price index.
Information about the complete line of Polaris
products, apparel and vehicle accessories are
available from authorized Polaris dealers or
anytime from the Polaris homepage at
www.polarisindustries.com.
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