Polaris's Board of Directors voted to elect Scott Wine, Polaris’ Chief Executive Officer, as Chairman of the Board.
Wine succeeds Greg Palen, who has been Chairman for 11 years and has nearly 20 years of service on the Board.
“Scott’s stellar track record as CEO of Polaris, coupled with his experience sitting on the Boards of Polaris and Terex, leaves me confident that the role of Chairman will be in good hands,” Palen said.
Wine will assume the role of Chairman effective immediately. Palen will step down from the Board following the Annual Shareholders meeting on April 25, 2013.
“Greg has been a beacon of leadership and wisdom on our Board of Directors for nearly 20 years, and his contributions were instrumental to the unprecedented growth Polaris enjoyed under his direction,” Wine said.
In addition to changes in the Chairmanship, after nine years of service Bob Caulk announced his decision not to stand for re-election at the 2013 Annual Shareholders meeting. Caulk’s board experience across several industries, as well as his strong background in mergers and acquisitions, proved invaluable in ensuring that Polaris maintained a trend of profitable growth even as the Company expanded its portfolio in recent years.
“During his time on the Board, Bob has supplied valuable insight into strategic marketing and complex acquisition transactions, contributing significantly to our recent ability to accelerate growth,” Wine said.
Finally, the Board also announced it has elected John Wiehoff as Lead Director. Wiehoff, who has served as CEO of C.H. Robinson Worldwide since 2002 and as the company’s Chairman since 2007. This experience, along with John’s many other talents, has contributed to Polaris’ success during his time as a member of the Polaris Board, which began in 2007.