Polaris CEO to leave, stock falls 8%

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Shares of Polaris Inc. fell more than 8% in the extended session Tuesday after the marker of off-road vehicles and snowmobiles said that Chairman and Chief Executive Scott Wine will leave the company to become the CEO of CNH Industrial NV . Wine will remain at Polaris through the end of the year as the board works out a succession plan to be announced at a later date, the company said. Wine joined Polaris in 2008 as CEO. In the same statement, Polaris reaffirmed its full-year 2020 sales and earnings guidance. Adjusted net income is expected to be in a range between $7.15 a share and $7.30 a share, a 13% to 16% increase over 2019, on an expected sales growth between 2% to 3% compared to 2019 adjusted sales of $6.783 billion, the company said.
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