POLARIS INC.

(PII)
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Real-time Estimate Cboe BZX  -  01:39 2022-07-07 pm EDT
111.08 USD   +2.40%
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Polaris Names Ben Duke President of Its Marine Business

05/05/2022 | 09:31am EDT

Polaris Inc. (NYSE: PII) announced today that Ben Duke has been named president of Marine. Duke will succeed Jake Vogel, who is transitioning to a strategic advisory role at Polaris. Both Duke and Vogel will report to Polaris CEO Mike Speetzen.

“The Vogel family’s immense impact on the pontoon and boating industry are evident by the powerhouse Bennington, Godfrey and Hurricane brands. Since Polaris acquired the businesses in 2018, Jake has overseen their continued success and we are deeply appreciative of his contributions, including growing revenue over the past three-year period and setting the brands on a path for continued long-term success,” said Speetzen. “We’re excited to have Ben take the baton from Jake and lead us into the next chapter for Polaris Marine. Ben brings extensive management experience and industry expertise. While managing our Godfrey and Hurricane businesses, Ben has increased market share and improved profitability, while improving efficiency and employee health and safety at the plant. His results-driven focus and strong leadership capabilities, coupled with a deep understanding of this segment, gives me complete confidence in his ability to successfully guide and grow our Marine business.”

“It is a privilege to take on this leadership role, building on the incredible legacy that Jake and his family have created with these brands and advancing Polaris’ Marine business,” said Duke. “With Polaris’ top-notch portfolio of boat brands and the skill of the Polaris Marine team I’ve worked alongside these last several years, I’m energized by what lays ahead for this business and the growth and innovation we will deliver for the benefit of our customers and dealers.”

A seasoned leader within the marine industry, Duke joined Polaris in 2019 as general manager for the Godfrey and Hurricane Boats businesses at Polaris. Prior to his role with Polaris, Duke served as president of the Job Site and Standby Power Group at Briggs and Stratton. He also spent nearly a decade at Mercury Marine in various product and marketing leadership roles. He was a member of United States Air Force before entering the private sector. Duke earned his master’s in Business Administration, as well as his bachelor’s degree in Business Management from Lakeland University.

About Polaris

As the global leader in powersports, Polaris Inc. (NYSE: PII) pioneers product breakthroughs and enriching experiences and services that have invited people to discover the joy of being outdoors since our founding in 1954. With annual 2021 sales of $8.2 billion, Polaris’ high-quality product line-up includes the Polaris RANGER®, RZR® and Polaris GENERAL™ side-by-side off-road vehicles; Sportsman® all-terrain off-road vehicles; military and commercial off-road vehicles; snowmobiles; Indian Motorcycle® mid-size and heavyweight motorcycles; Slingshot® moto-roadsters; Aixam quadricycles; Goupil electric vehicles; and pontoon and deck boats, including industry-leading Bennington pontoons. Polaris enhances the riding experience with parts, garments, and accessories, along with an aftermarket portfolio, including Transamerican Auto Parts. Proudly headquartered in Minnesota, Polaris serves more than 100 countries across the globe. www.polaris.com


© Business Wire 2022
All news about POLARIS INC.
07:52aRBC Lifts Price Target on Polaris to $113 From $110, Maintains Sector Perform Rating
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Financials (USD)
Sales 2022 9 138 M - -
Net income 2022 591 M - -
Net Debt 2022 1 168 M - -
P/E ratio 2022 11,1x
Yield 2022 2,33%
Capitalization 6 454 M 6 454 M -
EV / Sales 2022 0,83x
EV / Sales 2023 0,76x
Nbr of Employees 16 000
Free-Float 94,7%
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Mean consensus OUTPERFORM
Number of Analysts 17
Last Close Price 108,47 $
Average target price 131,11 $
Spread / Average Target 20,9%
EPS Revisions
Managers and Directors
Michael Todd Speetzen Chief Executive Officer & Director
Robert P. Mack Chief Financial Officer
John P. Wiehoff Chairman
Steven J. Kemp Vice President-Technology, Electronics & Software
Matthew J. Emmerich Chief Information Officer & Vice President
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