Polaris Appoints Michael Speetzen as Interim CEO
Following the departure of long-time Chairman and CEO Scott Wine to pastures new, Polaris Industries has played it safe initially by appointing Executive VP and CFO Michael Speetzen to serve as interim Chief Executive Officer, with John Wiehoff, the company's Lead Independent Director, as Chair of the Board.
Additionally, Bob Mack, Polaris' senior VP of Corporate Development and Strategy and president of their Global Adjacent Markets and Boats divisions, appointed interim Chief Financial Officer.
"We appreciate Mike and Bob taking on these expanded roles while we progress our CEO search," said Wiehoff. "Mike and Bob have made significant contributions to Polaris' success during their respective tenures.
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| Michael Speetzen |
"In addition to leading the company's finance organization and expertly managing the liquidity of Polaris during this global pandemic, Mike has helped shape and drive key growth initiatives, including Polaris' digital transformation and productivity enhancements. Bob's operational accomplishments and financial experience leading Polaris' M&A and corporate development strategy are well suited to advance Polaris' strong financial foundation. We are confident that Mike and Bob, and the deep understanding they bring of both the business and the industry, will enable a seamless transition during this interim period."
"I have witnessed time and again the Polaris team's passion and commitment to delivering for all of our stakeholders," said Speetzen. "I am excited to lead the continued execution of our strategy and accelerate the positive momentum underway across the organization."
Speetzen was hired to Polaris by Scott Wine in August 2015 as Executive Vice President, Finance and CFO. Prior roles included Sr VP and CFO of Xylem, Inc. (since 2011, when the company was formed from the spin-off of the water businesses of ITT Corporation); Executive VP and CFO for the StandardAero Company (owned by the private equity firm Dubai Aerospace Enterprise) and positions in the finance functions at Honeywell and General Electric.
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| Bob Mack |
Mack joined Polaris in April 2016 from Ingersoll Rand. Wiehoff has served as a member of the Polaris Board of Directors since 2007 and as Lead Independent Director since 2013 and serves as the Chair of the Corporate Governance and Nominating Committee. Wiehoff also served as Chairman of the Board and CEO for logistics specialist C.H. Robinson (Eden Prairie, Minnesota), retiring in May 2020 and May 2019; prior roles include at Chicago based former 'Big Five' accounting firm Arthur Andersen LLP. Wiehoff also serves on the Board of Directors of industrial filter business Donaldson Company, Inc and U.S. Bancorp.