Polaris Inc., the parent company of the Indian Motorcycle brand, has announced that Chairman and CEO Scott Wine will leave Polaris after more than a decade at the company, and will join CNH Industrial as CEO. Wine will remain with Polaris in his current role till December 31, 2020 as the Board executes its succession plans. Wine's tenure at Polaris has been significant, and responsible for turning around the company with Polaris even joining the Fortune 500 listing, as well as taking over the Indian Motorcycle brand, which continues to gain market share and display positive growth.
"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," said Wine. "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. 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."
Wine joined Polaris in 2008 as CEO and was elected as Chairman of the Board in 2013. During his time as CEO, Polaris grew from a $1.9 billion organization to a nearly $7 billion global powersports Company, with more than 30 brands under its management. Polaris has not announced yet who will replace Wine at the helm of the company, but it's likely to have a shake-up with a new leader coming on board to lead the company very soon.