Polaris Industries announced CEO Tom Tiller will not seek a contract extension with the company through 2008. Tiller will stay with the company until a replacement is found, which he said could take well into 2008.
Tiller has been with Polaris for 10 years and might stay on the board of directors after the new CEO is determined. Tiller told Powersports Business it was the right time for change for both him and Polaris.
Tiller says he expects Polaris and the new CEO to concentrate on developing more innovative product, like the Ranger RZR and Victory Vision, and identifying new growth areas.
“We love the businesses that we’re in,” he said, “and we think we can be very successful in those businesses even with the pressures that are here today.”