Arctic Cat Names New CEO
Arctic Cat Inc. named Christopher Metz as the next CEO of the company on Friday.
The announcement comes five months after the off-road vehicle manufacturing company initiated a replacement search when Claude Jordan exited the company.
“I’m excited to lead a terrific team at Arctic Cat,” Metz said in a statement. “The company has a strong consumer brand and significant opportunities to increase its sales and profitability.”
Metz most recently worked as the managing director of Sun Capital Partners Inc., a private investment firm based in Boca Raton, Florida. Prior to that, he worked at Baltimore-based Black & Decker, a home goods and power tools manufacturer.
This year has been a bumpy one for Arctic Cat. The Plymouth-based company missed earnings during the third quarter of fiscal 2014. In June, Christopher Twomey, who previously served as CEO for more than two decades, stepped up to fill Jordan’s vacant spot in the interim. And late last month, though the company said sales were up for the quarter, it lowered its outlook for the fiscal year, citing warranty expenses, severance costs and an unfavorable Canadian currency exchange.
Though Twomey is leaving the chief executive role for the second time, he will remain with the company as he continues to serve as chairman of the board.
Arctic Cat stock rose slightly above yesterday’s close to $33.37 per share as of mid-day Friday.