BRP Makes Executive Appointments Supporting its Future Growth
Valcourt, Quebec, May 31, 2022 –BRP Inc. (TSX:DOO; NASDAQ:DOOO) announces today executive appointments to support future growth plans, build an even more resilient company and deliver lasting value. This evolution of the leadership structure will allow BRP to continue focusing on its long-term goals and achieve its ambitious targets. All these internal promotions are effective immediately.
“In the past five years alone, our revenues increased by 80%, and our employee base more than doubled. Our business also grew in complexity, including from a technology and product standpoint. I am excited to announce these changes and promotions that will play a critical role in achieving our strategic priorities and positioning our business for long-term growth,” said José Boisjoli, President and CEO.
Chief Technology Officer
Thomas Uhr has been appointed to the newly created role of Chief Technology Officer (CTO). Mr. Uhr and his team will look to the future, spearheading all new product and manufacturing technologies used across the Powersports and Marine businesses, including the EV program. He will also continue to lead the development of new manufacturing systems, as well as oversee BRP-Rotax in Austria, which represents a technology pole for the Company.
President, Powersports Group
Sandy Scullion has been appointed President, Powersports Group. In addition to keeping his current retail, sales and consumer experience responsibilities, Mr. Scullion will now oversee all manufacturing operations for Powersports in Canada, Mexico and Finland. Having a dedicated leader at the helm of Powersports will further align production and commercial activities while maximizing day-to-day results.
President, Marine Group
Karim Donnez has been appointed President, Marine Group. With the acquisition of three boat companies since 2018, BRP has ambitious plans to transform the recreational boating industry and offer customers a superior boating experience. BRP aims to become a key player in this industry, which is as large as the powersports industry. This is therefore a significant growth opportunity for the Company.
Senior Vice-President, Corporate Strategy & Development
Minh Thanh Tran has been promoted to Senior Vice-President, Corporate Strategy and Development. Mr. Tran remains responsible for the development of the corporate strategy. In addition, he will increase his focus on the Company’s growth projects both organically and via M&A activities, namely to reinforce BRP’s know-how in EV and increase its competitive advantage through business innovation.
Chief Information Officer
A new position of Chief Information Officer (CIO) has been created. The Company is actively looking for a seasoned leader to head its information technologies and evolve its systems to support the business transformation and vision.
These new positions, combined with strong retail demand across all product lines and key capital investments, will allow BRP to further position itself to continue driving solid results.
CAUTION CONCERNING FORWARD-LOOKING STATEMENTS
Certain information included in this release, including, but not limited to, statements relating to future demand for BRP’s products, the timing of and importance of capital investments, and other statements that are not historical facts, are "forward-looking statements" within the meaning of Canadian and United States securities laws. Forward-looking statements are typically identified by the use of terminology such as "may", "will", "would", "should", "could", "expects", "forecasts", "plans", "intends", "trends", "indications", "anticipates", "believes", "estimates", "outlook", "predicts", "projects", "likely" or "potential" or the negative or other variations of these words or other comparable words or phrases. Forward looking statements, by their very nature, involve inherent risks and uncertainties and are based on several assumptions, both general and specific. BRP cautions that its assumptions may not materialize and that current economic conditions render such assumptions, although reasonable at the time they were made, subject to greater uncertainty. Such forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors which may cause the actual results or performance of BRP to be materially different from the outlook or any future results or performance implied by such statements. Further details and descriptions of these and other factors are disclosed in the offer to purchase and in BRP’s annual information form dated March 24, 2022.
About BRP
We are a global leader in the world of powersports products, propulsion systems and boats built on 80 years of ingenuity and intensive consumer focus. Our portfolio of industry-leading and distinctive products includes Ski-Doo and Lynx snowmobiles, Sea-Doo watercraft and pontoons, Can-Am on and off-road vehicles, Alumacraft and Quintrex boats, Manitou pontoons and Rotax marine propulsion systems as well as Rotax engines for karts and recreational aircraft. We complete our lines of products with a dedicated parts, accessories and apparel portfolio to fully enhance the riding experience. With annual sales of CA$7.6 billion from over 120 countries, our global workforce includes close to 20,000 driven, resourceful people.
Ski-Doo, Lynx, Sea-Doo, Can-Am, Rotax, Alumacraft, Manitou, Quintrex, and the BRP logo are trademarks of Bombardier Recreational Products Inc. or its affiliates. All other trademarks are the property of their respective owners.
-30-
|
For media enquiries: Biliana Necheva |
For investor relations: |