Aug. 5--Snowmobile and ATV maker Polaris Industries said Monday that Scott Wine, a fire protection executive and former naval officer, will succeed CEO Tom Tiller on Sept. 1.

Wine will join Polaris after serving as president of the Fire Safety Americas unit of UTC Fire and Security, a division of Connecticut based-United Technologies Corp. Wine also has held senior posts at Danaher Corp. and Honeywell International.

Tiller, the energetic and charismatic General Electric leader who became Polaris CEO 10 years ago, surprised Wall Street in January when he announced that he would not renew his contract at the end of this year. He said he was stepping down in order to pursue fresh and yet-undecided challenges. He will remain a member of the Polaris board.

"Tom and his team did an outstanding job of leading Polaris for the past 10 years, and we feel very fortunate to be able to continue that success by adding Scott's experience and skills to that team," said Polaris director Greg Palen.

"As a proven leader with considerable experience across a variety of industries and three outstanding international companies, Scott has an impressive track record of producing outstanding results," Palen said. "We're confident that Scott, together with our strong management team, will continue Polaris' remarkable history of innovation, leadership and results benefiting all of our stakeholders."

Polaris stock fell 64 cents, or 1.46 percent, to $43.28 Monday on the New York Stock Exchange.

During Tiller's tenure, Polaris has suffered but survived comparatively well amid industry turmoil that has included a 10-year dearth of snowfall and declining snowmobile sales. Tiller closed Polaris' watercraft division and is weathering the industry slowdown in ATV sales with strong international growth and new products.

Last month, despite the slow U.S. economy and increasingly tightfisted consumers, Polaris beat analysts' expectations for the second quarter, posting a 7 percent jump in net income.

Second quarter net income at the Medina-based company was $24.4 million, or 72 cents per share. Analysts were expecting 68 cents a share.

The quarter's sales rose 21 percent to $455.7 million because of strong sales of Polaris' Ranger side-by-side ATVs, parts, apparel and accessories. Sales of Victory motorcycles fell during the quarter.

Analysts said Wine must prove to investors that he can steer the $1.9 billion company during recessionary times that have put pressure on the entire recreational vehicle industry.

Last month, Tiller raised his 2008 earnings forecast, saying he now expects earnings of $3.40 to $3.48 a share -- 10 to 12 percent above 2007 results. Revenue is expected to grow 9 to 11 percent this year above the $1.78 billion reported in 2007.

Dee DePass --612-673-7725

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