Scott Wine, chairman and chief executive of Polaris Inc., will leave the company at the end of the year to become the new CEO of CNH Industrial N.V., the maker of Case and New Holland agricultural equipment.
“For the last 12 years, I have had the extraordinary honor of leading the best team in powersports, and it is incredibly rewarding to reflect on all that we have accomplished together,” Wine said statement Tuesday.
“I am most proud of the team and the culture that have made working here so gratifying, and having witnessed firsthand the ingenuity, passion and drive that permeates the Company, I leave with complete confidence that Polaris’ future is bright,” he said.
Polaris said it would immediately begin to look for a successor. The Medina-based company, with about $7 billion in annual revenue, is one of the nation’s largest makers of all-terrain vehicles, snowmobiles and motorcycles.
CNH Industrial, based in London, produces agricultural and construction equipment and operates globally. Its annual revenue is approximately $28 billion.
Polaris’ lead independent director John Wiehoff, the former CEO of Eden Prairie-based C.H. Robinson Worldwide, noted Wine’s accomplishments at Polaris.
“Scott has been an exceptional leader for Polaris. During his tenure, Polaris grew from a strong Minnesota company into a global leader in the powersports market — more than tripling sales and vaulting Polaris into the Fortune 500,” Wiehoff said in the company’s statement.