Medina, MN (5/18/2009)
- Polaris Industries Inc. (NYSE: PII)
today announced the creation of a new On-Road
Vehicle Division to help continue its drive
toward the company'svision and objectives which
include establishing a significant on-road presence.
The new division takes the existing skills and
assets within the company and aligns them in
a way that maximizes cohesive and strategic
growth for Victory Motorcycles and other on-road
products and brands.
"Victory Motorcycles, with its strong
brand recognition and customer loyalty, will
be one of the major components of our new
On-Road Vehicle Division that we're announcing
today," said Scott Wine, Chief Executive
Officer of Polaris Industries. "This
new division will support our efforts to be
the 'Best in Powersports' and continue building
on our strong on-road brands and global market
leadership in this critical space."
Several organizational changes that set the
foundation of the On-Road Vehicle Division
are also being announced today. Intended to
further strengthen the company in the on-road
marketplace, these management moves put the
new division in the best possible position
to sustain profitable growth and long-term
success.
First among these changes is Mark Blackwell's
new role as Vice President of Motorcycles.
Blackwell has spent the past eight years leading
day-to-day operations for Victory Motorcycles
and played a key role in building the brand
from an unknown startup into a highly regarded
competitor considered to be among the worlds
finest. Under Blackwell's leadership, Victory
has expanded into markets outside the United
States and is well-positioned for long term
success. Blackwell's deep knowledge of products
and markets in the motorcycle industry will
continue to be an invaluable asset to the
Victory brand and all other on-road vehicles.
Mike Jonikas, currently Vice President, Sales
& Corporate Marketing has been appointed
to the newly created role of Vice President
of the On-Road Vehicle Division. In this position,
Jonikas will be responsible for rapidly growing
the on-road business for Polaris including
strategic direction for Victory Motorcycles,
and any on-road adjacencies we may add in
the future. Jonikas brings proven skills to
the On-Road Vehicle Division that include
leading business teams to profitable growth,
developing new markets and successful commercialization
of new products. He will continue to lead
our Sales & Corporate Marketing teams.
During the past nine years, Jonikas has succeeded
in several key roles with
Polaris including Director of Product &
Marketing Management for ATV, the first General
Manager of the Polaris side-by-side business,
and eventually as Vice President Sales &
Corporate Marketing, overseeing the creation
and phased roll-out of the Max Velocity Program.
Steve Menneto has been promoted to the position
of General Manager of Victory Motorcycles,
to lead profitable sales growth for this business.
Since joining Polaris in 1997, Menneto has
risen quickly, and has demonstrated a strong
knowledge for strategic planning and increasing
business profitability. Additional experience
in positions such as Region Sales Manager,
Director of Dealer Development and Director
of North American Sales developed Menneto's
deep understanding of Victory's dealer network
and his keen eye for the competitive environment
at the
dealership level for on-road vehicles.
"The Victory Motorcycles brand was essentially
built from scratch through tireless work in
the past ten years," said Bennett Morgan,
Chief Operating Officer of Polaris Industries.
"Now, by combining the diverse strengths
of Mark, Mike and Steve to further develop
our long-term strategies in the On-Road Vehicle
Division, we are positioning ourselves for
continued growth both in the motorcycle industry
and, in the bigger picture, across all segments
of the on-road marketplace."
Polaris is committed to growing its on-road
vehicle business through continued growth
in the motorcycle industry along with successfully
introducing products into other on-road adjacencies
in the future. The creation of this new On-Road
Vehicle Division reflects efforts to position
the company's key personnel into roles that
suit their strengths and allow them to further
develop the Polaris business and brands within
the on-road market.
Lastly, Judy Kulsrud has been appointed to
the position of Director of North American
Sales replacing Steve Menneto. Judy has been
with Polaris since 1995 and has a broad set
of experiences across many functional areas
of the business including management positions
in Retail Development, Sales Operations, Regional
Sales Management, and most recently the position
of Director of Dealer Development. Judy has
consistently delivered results and been successful
in each of these positions.
About Polaris:
With annual 2008
sales of $1.9 billion, Polaris designs, engineers,
manufactures and markets off-road vehicles
(ORVs), including all-terrain vehicles (ATVs)
and the Polaris RANGER™, snowmobiles
and Victory motorcycles for recreational and
utility use.
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 Small-Cap 600 stock
price index.
Information about the
complete line of Polaris products, apparel
and vehicle accessories, is available from
authorized Polaris dealers or anytime from
the Polaris homepage at www.polarisindustries.com.
