Polaris Shares Plunge as CEO Departs to Lead Agnelli’s CNH
- Wine leaves after navigating Polaris through tariffs, virus
- CNH gets first permanent successor since job vacated in 2018
Scott Wine
Photographer: Chris Goodney/Bloomberg
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Shares of off-road vehicle manufacturer Polaris Inc. tumbled in late trading after Chief Executive Officer Scott Wine said he’s stepping down to lead European tractor maker CNH Industrial NV.
Wine, who became CEO of Polaris in 2008 and was named chairman of the board in 2013, has capitalized on the growth of powersports in the U.S., while reviving the Indian motorcycle brand to compete with Harley-Davidson Inc. He also guided the Medina, Minnesota-based maker of snowmobiles, off-road vehicles and motorcycles through President Donald Trump’s trade wars and supply chain problems triggered by the pandemic.