Polaris Inc. (NYSE:PII), a leader in the miscellaneous transportation equipment industry, has announced the retirement of Stephen L. Eastman, the President of Parts, Garments, and Accessories (PG&A) and Aftermarket. The announcement came through a filing with the Securities and Exchange Commission (SEC) dated November 19, 2024, and made public today.
Eastman is set to retire from his executive role at the end of the year, with his responsibilities being redistributed to other leaders within the company starting January 1, 2025. However, he will continue in a strategic advisory role until his expected complete departure in December 2025. During this advisory period, Eastman will maintain his current level of compensation.
This transition marks a significant change in the executive team for Polaris, a company incorporated in Delaware and headquartered in Medina, Minnesota. Polaris has not yet announced a successor for Eastman’s position, but the company has confirmed that the existing leadership will absorb his duties in the interim.
Polaris has a history of strategic leadership and innovation in its field, and the departure of a high-ranking executive is a notable event for the company and its stakeholders. The redistribution of Eastman’s responsibilities suggests a realignment of the company's leadership structure as it prepares for the future.
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