Former Target.com President Eastman Joins Polaris
Roughly three-and-a-half months after Steve Eastman exited his role as president of Target.com, he has been hired by Polaris Industries, Inc., as vice president of the company's parts, garments, and accessories business.
Minneapolis-based Target Corporation in October announced that Eastman “left the company to pursue other opportunities.” His departure came about two months after Target launched a new website, which was plagued with a series of initial problems, including several crashes surrounding the launch of Target's limited-edition product line from Missoni.
While at Target, Eastman managed strategy development and execution, merchandising, operations, distribution channel management, marketing, and e-commerce-experience that Polaris says will directly relate to Eastman's new role.
Polaris' parts, garments, and accessories business generated $408.2 million in sales in 2011, representing about 15 percent of the company's overall revenue.
Scott Swenson previously ran Polaris' parts, garments, and accessories business, as well as its small vehicles business; he will now focus his attention solely on small vehicles-namely, on growing the company's presence in the small electric vehicle market.
The company last year acquired Global Electric Motorcars, LLC, a subsidiary of Chrysler Group, LLC, that manufactures low-speed electric-powered vehicles. It subsequently bought a stake in Brammo, an Oregon-based maker of electric motorcycles, and acquired Goupil Industrie SA, a France-based commercial electric vehicle manufacturer.
“Our small vehicles and parts, garments, and accessories businesses are vital to the company's success, and we are committed to pursuing growth in these markets,” CEO Scott Wine said in a statement. “In order to achieve these aggressive goals, we need talented leaders dedicated to each business. Hiring Steve to lead PG&A, thereby allowing Scott to devote his efforts to small vehicles, puts two strong executives in position to drive outstanding results.”
Polaris is among Minnesota's 25 largest public companies based on revenue, which totaled $1.99 billion in 2010. The company reported $2.66 billion in revenue for 2011.