Arctic Cat Announces Planned Retirement of CFO Timothy Delmore in May 2014
MINNEAPOLIS -- November 18, 2013
Arctic Cat Inc. (NASDAQ:ACAT) today announced that Chief Financial Officer Tim
Delmore has announced his intention to retire from Arctic Cat effective May
31, 2014. After nearly 29 years with the company, Delmore, 60, is looking
forward to spending more time with his family, on outdoor recreational
activities and other personal interests.
During Delmore’s tenure, Arctic Cat’s revenue grew from $16 million to more
than $672 million in fiscal 2013. Delmore joined the company in 1985 as
controller, when it was then privately held Arctco, Inc. He has served as
chief financial officer since 1986 and as its secretary since 1989. Delmore
helped lead Arctic Cat through its initial public offering in 1990.
Commented Arctic Cat’s chairman and CEO Claude Jordan: “For nearly three
decades, Tim has played a key role in Arctic Cat’s growth. His deep knowledge
of the company and financial stewardship helped build Arctic Cat into a market
leader in the powersports industry. On behalf of the board and everyone at the
company, I want to thank Tim for his outstanding leadership, dedication and
contributions. Tim is leaving the company in a very strong financial position.
We anticipate there will be a smooth transition, once a successor is named.”
An executive search firm is being retained to assist in filling the CFO
position. Delmore will continue to oversee his current responsibilities until
About Arctic Cat
Arctic Cat Inc. designs, engineers, manufactures and markets all-terrain
vehicles (ATVs), side-by-sides and snowmobiles under the Arctic Cat^® 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 “ACAT.” More
information about Arctic Cat and its products is available at
Arctic Cat Inc.
Claude Jordan, 763-354-1800
Chief Executive Officer
Shawn Brumbaugh, 612-455-1754
Press spacebar to pause and continue. Press esc to stop.