President of PG&A and Aftermarket Steve Eastman to Retire from Polaris

Rhea-AI Summary

Polaris Inc. (NYSE: PII) announced that Steve Eastman, president of Parts, Garments, and Accessories (PG&A) and Aftermarket, will retire on December 31, 2024. During his 13-year tenure since 2012, Eastman grew the PG&A business from $400 million to approximately $1.7 billion. Andy Williams, currently vice president of PG&A Operations, will succeed Eastman as president effective January 1, 2025. Eastman will remain as strategic advisor through 2025 to support the transition.

Positive

• PG&A business growth from $400M to $1.7B under Eastman's leadership
• Structured leadership succession plan in place with internal promotion
• Continuity ensured through strategic advisory period in 2025

Negative

• None.

Insights

Financial Analyst

The transition in PG&A leadership marks a significant milestone, given the division's substantial growth from $400 million to $1.7 billion under Eastman's tenure. The PG&A segment represents a important revenue stream, contributing approximately 20% of Polaris's total revenue. The planned succession appears well-structured, with Williams bringing relevant experience in e-commerce and supply chain management - critical areas for the division's future growth.

The orderly transition with a year-long advisory period suggests minimal disruption risk. Williams' internal promotion after a decade with the company indicates strong succession planning and continuity in strategy execution. The division's transformation into a multi-channel business with strong e-commerce capabilities positions it well in the evolving retail landscape.

Eastman plans to retire at the end of 2024, Andy Williams named president of PG&A and Aftermarket

MINNEAPOLIS, Nov. 22, 2024 /PRNewswire/ -- Polaris Inc. (NYSE: PII) today announced the planned retirement of Steve Eastman, president of Parts, Garments, and Accessories (PG&A) and Aftermarket, effective December 31, 2024.

"Steve has been an exceptional leader, mentor and advisor to many at Polaris. He is the architect who fundamentally transformed how we think about our approach to PG&A and Aftermarket. Over the last 13 years, Steve has built a global, multi-channel business that is a key competitive advantage for us, one that is unmatched in the powersports industry and well-positioned for continued growth," said Mike Speetzen, Polaris CEO. "I want to thank Steve for his invaluable contributions over the years and we wish him all the best in his well-deserved retirement."

Eastman joined Polaris in 2012 as president of PG&A. During his tenure, he was responsible for building and expanding Polaris' PG&A and Aftermarket businesses, including its direct-to-consumer e-commerce strategy. Eastman grew the PG&A business from $400 million in 2012 to an approximately $1.7 billion business, while implementing a category management approach, advancing insights & analytical capabilities and building a global aftermarket portfolio.

As a part of its leadership succession plan, Polaris is naming Andy Williams to the role of president of PG&A and Aftermarket, effective January 1, 2025. Eastman will step into the role of strategic advisor to support the transition and is expected to stay on through 2025.

Williams joined Polaris as director of PG&A Supply Chain in 2013 and was promoted to his current role as vice president of PG&A Operations in 2022. Prior to joining Polaris, Williams worked at Advance Auto Parts as director of e-commerce product fulfillment and at Target in various merchandise planning and distribution roles. He graduated from the United States Naval Academy with a Bachelor of Science in engineering.  

About Polaris
As the global leader in powersports, Polaris Inc. (NYSE: PII) pioneers product breakthroughs and enriching experiences and services that have invited people to discover the joy of being outdoors since our founding in 1954. Polaris' high-quality product line-up includes the RANGER®, RZR®, Polaris XPEDITION®, and GENERAL™ side-by-side off-road vehicles; Sportsman® all-terrain off-road vehicles; military and commercial off-road vehicles; snowmobiles; Indian Motorcycle® mid-size and heavyweight motorcycles; Slingshot® moto-roadsters; Aixam quadricycles; Goupil electric vehicles; and pontoon and deck boats, including industry-leading Bennington pontoons. Polaris enhances the riding experience with a robust portfolio of parts, garments, and accessories. Headquartered in Minnesota, Polaris serves nearly 100 countries across the globe. www.polaris.com 

 

 

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SOURCE Polaris Inc.

FAQ

When will Steve Eastman retire from Polaris (NYSE: PII)?

Steve Eastman will retire from Polaris as president of PG&A and Aftermarket on December 31, 2024.

Who will replace Steve Eastman as president of PG&A at Polaris (NYSE: PII)?

Andy Williams, current vice president of PG&A Operations, will become president of PG&A and Aftermarket effective January 1, 2025.

How much did Polaris (NYSE: PII) PG&A business grow under Steve Eastman's leadership?

Under Steve Eastman's leadership from 2012 to 2024, Polaris' PG&A business grew from $400 million to approximately $1.7 billion.