Arctic Cat bumps CEO to board chairman

Arctic Cat Inc. has tapped president and CEO Claude Jordan to be the new chairman of the board, the Star Tribune reports. Jordan joined the Plymouth-based recreational vehicle maker as president and COO in 2008, became CEO in January 2011. He replaces longtime chairman and former chief executive Christopher Twomey, who will remain on the board.

Author:: BMTN Staff
Publish date:: Nov 13, 2012
Updated on: Mar 8, 2018

Arctic Cat Inc. has tapped president and CEO Claude Jordan to be the new chairman of the board, the Star Tribune reports. Jordan joined the Thief River Falls, Minn.-based recreational vehicle maker as president and COO in 2008, became CEO in January 2011. He replaces longtime chairman and former chief executive Christopher Twomey, who will remain on the board.

Click here, for the company news release.

Arctic Cat's second-quarter net income rose 17 percent on demand for new recreational vehicles between July and September, the Associated Press reports. The company also raised its yearly forecast.

Click here, to follow Arctic Cat's stock performance.

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Double-digit gains helped fuel the Plymouth-based maker of snowmobiles and all-terrain vehicles. Arctic Cat saw a 26 percent increase in net sales and 130 percent increase in net income for Arctic Cat's just completed fiscal year. The results beat Wall Street predictions, but Arctic Cat issued lower-than-expected profit and sales predictions for the current fiscal year.

The Plymouth-based retailer is recalling thousands of snowmobiles after testing revealed a headlamp malfunction. Officials say the headlamp may cause disorientation and lead to crashes, though no reports of headlamp problems or injuries have been reported.

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