MINNEAPOLIS (Sept. 19, 2011) — Polaris Industries Inc. (NYSE: PII) today announced that Chief Executive Officer Scott Wine will be appointed to the Terex Corporation Board of Directors effective October 10, 2011.
“I am honored by the invitation to join Terex’s Board of Directors, a seasoned group that strives to set the standard for corporate governance,” said Wine. “This is an exciting opportunity to contribute to Terex’s strategic growth while working with, and learning from, Ron DeFeo (Terex Chairman and CEO), Chris Andersen (Terex Lead Director), and other directors and corporate leaders.”
Terex Corporation is a diversified global manufacturer reporting in four business segments: Aerial Work Platforms, Construction, Cranes and Materials Processing. Terex manufactures a broad range of equipment for use in various industries, including the construction, infrastructure, quarrying, mining, shipping, transportation, refining, energy and utility industries.
“Scott Wine has a proven track record of growing profitable industrial businesses, acquiring and integrating businesses and rapidly driving results,” said Terex Chairman and Chief Executive Officer, Ronald M. DeFeo. “We look forward to Mr. Wine’s contribution to board decision-making as Terex continues its development toward becoming a superb operating company,” commented Terex Lead Director and Chairman of the Governance and Nominating Committee, G. Chris Andersen.
Wine has served as the CEO of Polaris Industries Inc. since 2008. Prior to joining Polaris, Wine was president of Fire Safety Americas, part of the Fire & Security Division of United Technologies Corporation, and, prior to that time, held senior leadership positions at Danaher Corp. from 2003 to 2007. From 1996 to 2003, he held a number of operations and executive positions, both international and domestic, with Allied Signal Corp.’s Aerospace Division, which became Honeywell International in 1999. Wine began his career as an officer in the United States Navy. He holds a Master of Business Administration degree from the University of Maryland and a Bachelor of Science degree in economics from the United States Naval Academy.
With annual 2010 sales of $1.99 billion, Polaris designs, engineers, manufactures and markets innovative, high quality off-road vehicles, including all-terrain vehicles (ATVs) and the Polaris RANGER® for recreational and utility use, snowmobiles, motorcycles and on-road electric powered vehicles.
Polaris is a recognized leader in the powersports industry, among the global sales leaders for both snowmobiles and off-road vehicles. The Company has established a presence in the heavyweight cruiser and touring motorcycle market with Victory motorcycles and the acquisition of the Indian motorcycle brand. Additionally, Polaris continues to invest in the Global on-road low speed vehicle industry with internally developed vehicles and the acquisition of Global Electric Motorcars (GEM). Polaris enhances the riding experience with a complete line of Pure Polaris apparel, accessories and parts, available at Polaris dealerships.
Polaris Industries Inc. trades on the New York Stock Exchange under the symbol “PII”, and the Company is included in the S&P Mid-Cap 400 stock price index.
Information about the complete line of Polaris products, apparel and vehicles accessories are available from authorized Polaris dealers or anytime at www.polarisindustries.com.