American ATV manufacturer Arctic Cat has abruptly parted company with Claude Jordan, pictured, its chairman and chief executive for the past three years. Jordan has been temporarily replaced by Chris Twomey, a veteran board member who previously served as Arctic Cat’s chief executive for 24 years until 2010, while it seeks a permanent appointee for the role.
Commenting on the move, Twomey said: “Claude and the board have mutually decided this is the right time for new executive leadership.” He added that Arctic Cat expects to record a charge for severance costs relating to Jordan’s departure in results for the first quarter of its new financial year.
Arctic Cat’s chief financial officer Tim Delmore has agreed to postpone his previously announced retirement during this transition period.