MEDINA, MN – After 12 years at the helm as CEO and chairman of Indian Motorcycle’s parent company, Polaris Inc., Scott Wine is leaving at year’s end to become CEO of London-based CNH Industrial, N.V.
CNH Industrial is the maker of Case and New Holland agricultural equipment.
In statement released late Tuesday afternoon announcing his resignation, Wine said, “For the last 12 years, I have had the extraordinary honor of leading the best team in powersports, and it is incredibly rewarding to reflect on all that we have accomplished together.”
Polaris said a search for a successor to Wine will begin immediately. Polaris has about $7 billion in annual revenue from its all-terrain vehicles, snowmobiles and motorcycles.
CNH Industrial has annual revenue of about $28 billion. It produces agricultural and construction equipment. It is in the process of spinning off its “on-highway” lines of buses and minibuses.
Wine, 53, joined Polaris as CEO in 2008 and became Chairman of the Board in 2013. Annual sales at that time were $1.9 billion.
“I am most proud of the team and the culture that have made working here so gratifying, and having witnessed firsthand the ingenuity, passion and drive that permeates the company, I leave with complete confidence that Polaris’ future is bright,” Wine said in the statement.
“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.”
During his tenure, Polaris relaunched the Indian Motorcycle brand, folded the Victory brand of motorcycles and introduced the three-wheeled Slingshot.
Polaris responded to Wine’s departure by calling him “an exceptional leader” for the company.
“During his tenure, Polaris grew from a strong Minnesota company into a global leader in the powersports market—more than tripling sales and vaulting Polaris into the Fortune 500,” said Polaris’ Lead Independent Director John Wiehoff.
“Scott has assembled an experienced and highly capable executive team, and together they have built an incredible strategy and platform that will drive Polaris’ continued success. The Board is grateful for his vision and contributions and wishes him the best in his new role.”
Hello! If you enjoyed this story, please share it with other riders by clicking on the social media buttons below.