Monday, January 28, 2008
WINNEBAGO CHAIRMAN TO RETIRE IN MAY
CHICAGO, Jan 28 (Reuters) - Winnebago Industries Inc (WGO.N: Quote, Profile, Research) said on Monday that Bruce Hertzke plans to retire as chairman and chief executive of the largest maker of motor homes in May.
Bob Olson, currently the company's president, will succeed him at the helm, the company said.
Hertzke, 56, has held the position of CEO since April 1998 and has been with Winnebago for 36 years.
Olson, 56, was elected president of the company in 2007 and has been with Winnebago for 38 years. He began his career at the company as an hourly production employee.
Olson will take over the helm of Winnebago at a time when the recreational vehicle market has been faring badly. Winnebago and other vehicle makers have seen a sharp drop in showroom traffic over the past 12 months as turmoil in the U.S. housing market - whose ups and downs are highly correlated with RV sales - have weighed on consumer confidence.
Last week, Winnebago said had it begun laying off workers at its plant in Forest City, Iowa due to a slump in sales. (Reporting by Nick Carey and Scott Malone; editing by Carol Bishopric)
Bob Olson, currently the company's president, will succeed him at the helm, the company said.
Hertzke, 56, has held the position of CEO since April 1998 and has been with Winnebago for 36 years.
Olson, 56, was elected president of the company in 2007 and has been with Winnebago for 38 years. He began his career at the company as an hourly production employee.
Olson will take over the helm of Winnebago at a time when the recreational vehicle market has been faring badly. Winnebago and other vehicle makers have seen a sharp drop in showroom traffic over the past 12 months as turmoil in the U.S. housing market - whose ups and downs are highly correlated with RV sales - have weighed on consumer confidence.
Last week, Winnebago said had it begun laying off workers at its plant in Forest City, Iowa due to a slump in sales. (Reporting by Nick Carey and Scott Malone; editing by Carol Bishopric)
