MINNEAPOLIS, MN – November 18, 2013 – Arctic Cat Inc. (NASDAQ:ACAT)
today announced that Chief Financial Officer Tim Delmore has announced
his intention to retire from Arctic Cat effective May 31, 2014. After
nearly 29 years with the company, Delmore, 60, is looking forward to
spending more time with his family, on outdoor recreational activities
and other personal interests.
During Delmore’s tenure, Arctic Cat’s revenue grew from $16 million
to more than $672 million in fiscal 2013. Delmore joined the company in
1985 as controller, when it was then privately held Arctco, Inc. He has
served as chief financial officer since 1986 and as its secretary since
1989. Delmore helped lead Arctic Cat through its initial public offering
in 1990.
Commented Arctic Cat’s chairman and CEO Claude Jordan: “For nearly
three decades, Tim has played a key role in Arctic Cat’s growth. His
deep knowledge of the company and financial stewardship helped build
Arctic Cat into a market leader in the powersports industry. On behalf
of the board and everyone at the company, I want to thank Tim for his
outstanding leadership, dedication and contributions. Tim is leaving the
company in a very strong financial position. We anticipate there will
be a smooth transition, once a successor is named.”
An executive search firm is being retained to assist in filling the
CFO position. Delmore will continue to oversee his current
responsibilities until his retirement.
About Arctic Cat
Arctic Cat Inc. designs, engineers, manufactures and markets
all-terrain vehicles (ATVs), side-by-sides and snowmobiles under the
Arctic Cat® brand name, as well as related parts, garments
and accessories. Its common stock is traded on the NASDAQ Global Select
Market under the ticker symbol “ACAT.” More information about Arctic Cat
and its products is available at www.arcticcat.com.
By press release
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