Arctic Cat Names Mary Ellen Walker as General Manager of Parts, Garments and Accessories Division.THIEF RIVER The Thief River is a tributary of the Red Lake River in northwestern Minnesota in the United States. Via the Red Lake River, the Red River of the North, Lake Winnipeg and the Nelson River, it is part of the watershed of Hudson Bay. FALLS, Minn. -- Arctic Cat Inc. (Nasdaq:ACAT ACAT See: Automated Customer Account Transfer ) today announced that Mary Ellen Walker has joined the company as general manager of the parts, garments and accessories (PG&A) business, as well as companywide sales. Arctic Cat's PG&A business, with more than $100 million in revenues, represents approximately 13 percent of the company's net sales Net Sales The amount a seller receives from the buyer after costs associated with the sale are deducted. Notes: This amount is calculated by subtracting the following items from gross sales: merchandise returned for credit, allowances for damaged or missing goods, freight . Walker reports directly to CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Christopher Twomey. "Mary Ellen's proven expertise in global business development and brand management make her a great fit with Arctic Cat," said Twomey. "As general manager of PG&A and companywide sales, Mary Ellen will play a key role in re-invigorating the growth of our business and further leveraging our efficiency. We are excited to have Mary Ellen on board and look forward to her contributions." Walker brings more than 25 years of business experience from the 3M Company. Her career at 3M Company has spanned key assignments in general management, marketing, sales, and global business development. Most recently, Walker was general manager of 3M's Building Safety Solutions Division, where she successfully re-engineered a portfolio of businesses and grew revenues to nearly $200 million through increased market penetration, overseas expansion, repositioning key products, and launching new products and programs. Prior to that, Walker served as business director of 3M's Promotional Markets for the company's global $100 million custom-printed Post it[R] Notes business. She also led the global growth of the 3M insulation "Thinsulate" business for the apparel industry, expanding internationally and entering new markets, such as automotive and appliances. Said Walker: "I'm excited by the opportunity to help Arctic Cat achieve its strategic goals and grow sales. The company has a strong brand, market leadership position and reputation for offering high-quality, innovative products." Walker earned an MBA MBA abbr. Master of Business Administration Noun 1. MBA - a master's degree in business Master in Business, Master in Business Administration from McMaster University, Hamilton, Ontario, Canada. She also received a bachelor's degree from the University of Western Ontario Western is one of Canada's leading universities, ranked #1 in the Globe and Mail University Report Card 2005 for overall quality of education.[2] It ranked #3 among medical-doctoral level universities according to Maclean's Magazine 2005 University Rankings. , London, Ontario, Canada. About Arctic Cat Arctic Cat Inc. designs, engineers, manufactures and markets all-terrain vehicles (ATVs) and snowmobiles under the Arctic Cat[R] brand name, as well as related parts, garments and accessories. Its common stock is traded on the Nasdaq Global Select Market under the ticker symbol Ticker Symbol An arrangement of characters (usually letters) representing a particular security listed on an exchange or otherwise traded publicly. When a company issues securities to the public marketplace, it selects an available ticker symbol for its securities which investors "ACAT." More information about Arctic Cat and its products is available at www.arcticcat.com. Forward-Looking Statements The Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995 provides a safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. for certain forward-looking statements. The Company's Annual Report, as well as the Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. and future filings with the Securities and Exchange Commission, the Company's press releases and oral statements made with the approval of an authorized executive officer, contain forward-looking statements that reflect the Company's current views with respect to future events and financial performance. These forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from historical results or those anticipated. The words "aim," "believe," "expect," "anticipate," "intend," "estimate" and other expressions that indicate future events and trends identify forward-looking statements. Actual future results and trends may differ materially from historical results or those anticipated depending on a variety of factors, including, but not limited to: product mix and volume; competitive pressure on sales and pricing; increase in material or production cost which cannot be recouped in product pricing; changes in the sourcing of engines from Suzuki; warranty expenses; foreign currency exchange rate fluctuations; product liability claims and other legal proceedings All actions that are authorized or sanctioned by law and instituted in a court or a tribunal for the acquisition of rights or the enforcement of remedies. in excess of insured amounts; environmental and product safety regulatory activity; effects of the weather; overall economic conditions; and consumer demand and confidence. The Company does not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion