Polaris Industries CEO to join U.S. Bancorp's board of directors

  • Updated: June 17, 2014 - 8:19 PM

Polaris CEO Scott Wine

Minneapolis-based U.S. Bancorp said Tuesday that it has tapped the CEO of Polaris Industries Inc. to join its board of directors.

Scott Wine, 47, is credited with driving significant revenue growth at Polaris, which makes all-terrain vehicles, snowmobiles, motorcycles and accessories. His success at the Medina-based manufacturer has caught the eye of others in Twin Cities business circles.

In a statement, U.S. Bancorp CEO Richard Davis said, “We are delighted that Scott will be bringing his extensive experience and insight to our board.’’

U.S. Bancorp is the parent company of U.S. Bank and is the nation’s fifth-largest commercial bank with 3,085 offices in 25 states.

Wine — a former fire protection executive at United Technologies and a former naval officer — joined Polaris in September 2008, just as the recession was deepening. During his tenure, Polaris’ revenue nearly doubled, reaching $3.77 billion last year.

Polaris’ stock price has risen from $20 a share to around $130. Wine also oversaw the expansion of Polaris’ factories in Iowa, Wisconsin, and Wyoming, Minn., and the opening of new plants in Mexico and Poland.

Dee DePass

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