Polaris Industries Announces Global Adjacent Markets Business Unit

(RTTNews) - Polaris Industries Inc (PII), the maker of off-road vehicles and snow mobiles, said Monday it is integrating several emerging business lines to create a new Global Adjacent Markets business and that it has named Matt Homan to lead the fully integrated business as President, Global Adjacent Markets. This new business unit is operational effective immediately.

"In his time with Polaris, Matt Homan has demonstrated the ability to spur growth and develop synergies amongst a range of businesses," said Scott Wine, Polaris Chairman and Chief Executive Officer. "His background makes him ideally suited to lead our vitally important Global Adjacent Markets business, which aggregates our adjacency initiatives to better utilize scale and resources while providing clearer accountability."

Homan has been with Polaris for 12 years and was previously Vice President, EMEA (Europe, Middle East and Africa) and Small Vehicles and prior to that Vice President of Off-Road Vehicles.

Under Homan's leadership, the Global Adjacent Markets business will have responsibility for all Small Vehicles product lines, including GEM, Goupil, Aixam/Mega and Brammo, as well as all commercial, Brutus, government and B2B applications of Off-Road Vehicles (ORV), Snow and Motorcycles outside Polaris' traditional dealer channels.

This change does not affect Polaris' core consumer business units including Off-Road Vehicles, Snow, Motorcycles, Parts Garments & Accessories or Eicher Polaris Private Limited.

Commensurate with Homan's promotion, Suresh Krishna has accepted the position of Vice President, EMEA. Krishna joined Polaris in March 2010 and previously served as Vice President, Global Operations and Integration. In his new role, Krishna will lead the company's EMEA business, concentrating on the continued development of both organic and new growth opportunities in the region.