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Polaris CEO stepping down

2517 Views 4 Replies 5 Participants Last post by  sarnali2
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Polaris CEO stepping down

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This is, appearantly, why I'm not a CEO. If everything is so succesfull, why leave? Or is something bad about to happen?
Mr. Tiller is incredibly young to be a CEO for a company the size of Polaris. This from an 11/15/04 Business Week article on him:

"So far his answer -- a blending of GE-style discipline, new blood, a focus on broader markets, and loyalty to his workers -- seems to be working. Despite a growing national movement to highlight the environmental and safety problems posed by ATVs and snowmobiles, the company is thriving. Under Tiller, sales have risen from $1.2 billion in 1997 to an estimated $1.8 billion this year. More impressive, net income has climbed from $31 million to an estimated $135 million. Heartened by 26 straight quarters of meeting or beating expectations, shareholders have bid the stock up 274% during Tiller's tenure, compared with a 12% drop for the Standard & Poor's 500-stock index."

I would say it is beyond any doubt that this guy's leadership invigorated Polaris. Who knows why he is stepping aside, but it seems that Polaris will miss Mr. Tiller greatly.

This from Forbes - the outgoing CEO's package from Polaris is worth over 60 million. With that kind of scratch, perhaps he just feels like kicking it for awhile. I know it would be hard for me to work if I had that kind of money!

Cash Compensation (FY December 2006)
Salary $750,000

Latest FY other long-term comp. $1,603,445

Latest FY long-term incentive payout $0
Total $2,353,445

Stock Options (FY December 2006)
Number of options Market value
exercised 550,000 $29,398,125

unexercised 1,550,000 $38,051,750

unexercisable 415,000 $718,500
Total 2,515,000 $68,168,375
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Given his history with GE, it's no surprise that he found growth in the offshore market. "Globalization" is a key focus here at GE (in many cases to my great dismay). CEOs are always hopping around, especially when they're presented with golden parachutes like the one Duken2evr brought up.

Either that, or everyone realized Victory is about to go tits up on account of the Vision, and he got the f outta there before the roof crashed in.
The newest version of Indian/Chris Craft is being aquired by Polaris and they'll be usuing the Power Plus engine in all new models, The 101 inch Victory engine will be used to supply engines for Irrigation pump and Mine Dewatering pumps. he just made a lateral jump to overall Chairmanship of the new Polaris Recreation and Industrial Products Div...
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