VALCOURT, QC, June 5, 2023
/CNW/ - BRP Inc. (TSX: DOO) (NASDAQ: DOOO) is proud to
announce that long-standing BRP executive Bernard Guy is appointed to the position of
President, Marine Group, effective
today. Mr. Guy also keeps his current leadership responsibilities
for global product strategy for both the Powersports and Marine
groups. Karim Donnez, President of the Marine Group, is leaving BRP
to take on new professional challenges.
"I am pleased to appoint Bernard
Guy as President of our Marine Group," said José Boisjoli,
President and CEO of BRP. "Throughout his career with BRP, Bernard
has shared our values of passion and drive to create the ultimate
experience for our customers. As a trusted and seasoned executive,
Bernard is the ideal candidate to continue working on our strategic
plan to transform the Marine industry, alongside our talented
Marine management team. We thank Karim for his contributions to our
organization and for leading our Marine strategy over the past few
years."
Since 2018, BRP has acquired three boat companies to build its
Marine Group, with renowned brands such Alumacraft, Manitou and Quintrex, and implemented a
strategy to transform the recreational boating industry and offer
customers a superior experience. Last summer, BRP launched fully
redesigned boats and pontoons equipped with the groundbreaking
Rotax S engine with Stealth technology, which won several awards
and praise from the industry.
BRP is aiming to deliver strong Marine results in fiscal year
2024, with projected revenue growth of 35% to 40% compared to
fiscal year 2023.
About Bernard Guy
Throughout his career spanning over 35 years at BRP,
Bernard Guy has held different
management positions, leveraging his expertise in engineering,
procurement, strategy, product planning, sales and marketing. In
2022, Mr. Guy was named Executive Vice-President, Global Product
Strategy, a position that he will continue to assume in addition to
his new responsibilities with the Marine Group. As a die-hard
powersports fan himself, an adrenaline lover who enjoys the great
outdoors, he is driven by product innovation and rider
experience.
CAUTION CONCERNING FORWARD-LOOKING
STATEMENTS
Certain statements in this press release, including, but not
limited to, statements relating to the Company's Marine results in
Fiscal Year 2024, including projected revenue growth, statements
about the Company's current and future plans, including leadership
changes in the Marine group and its expected impact on such group
and its strategic plan, and other statements about the
Company's prospects, expectations, anticipations, estimates and
intentions, results, levels of activity, performance, objectives,
targets, goals or achievements, priorities and strategies,
financial position, market position, ability to gain additional
market shares, capabilities, competitive strengths, beliefs, the
prospects and trends of the industries in which the Company
operates, research and product development activities, including
the expectation of regular flow of new product introductions, their
projected design, characteristics, capacity or performance,
expected scheduled entry to market and the anticipated impact of
such products, expected financial requirements and the availability
of capital resources and liquidities or any other future events or
developments and other statements that are not historical facts
constitute forward-looking statements within the meaning of
Canadian and United States
securities laws. The words "may", "will", "would", "should",
"could", "expects", "forecasts", "plans", "intends", "trends",
"indications", "anticipates", "believes", "estimates", "outlook",
"predicts", "projects", "likely" or "potential" or the negative or
other variations of these words or other comparable words or
phrases, are intended to identify forward-looking statements.
Forward-looking statements, by their very nature, involve inherent
risks and uncertainties and are based on a number of assumptions,
both general and specific, including those described below.
The Company made a number of economic, market and operational
assumptions in preparing and making certain forward-looking
statements contained in this press release, including the
following: reasonable industry growth ranging from slightly down to
slightly up, that is based on the assumption that supply chain
disruptions continue to improve; market share will remain constant
or moderately increase; stable global and North American economic
conditions, a limited impact from the military conflict between
Russia and Ukraine and the COVID-19 pandemic; main
currencies in which the Company operates will remain at near
current levels; inflation is expected to remain elevated from
strong demand, supply shortages and high energy prices, and is
expected to gradually decline as central banks gradually increase
interest rates; there will be no significant changes in tax laws or
free trade arrangements or treaties applicable to the Company; the
Company's margins, will remain at current levels; the supply base
will remain able to support product development and planned
production rates on commercially acceptable terms in a timely
manner; no new trade barriers will be imposed amongst jurisdictions
in which the Company carries operations; the absence of unusually
adverse weather conditions, especially in peak seasons. The Company
cautions that its assumptions may not materialize and that global
economic and political conditions, combined with one or more of the
risks and uncertainties discussed in the Company's annual
information form dated March 22,
2023, may render such assumptions, although believed
reasonable at the time they were made, inaccurate. Such
forward-looking statements are not guarantees of future performance
and involve known and unknown risks, uncertainties and other
factors which may cause the actual results or performance of the
Company or the industry to be materially different from the outlook
or any future results or performance implied by such
statements.
About BRP
BRP Inc. is a global leader in the world of powersports
products, propulsion systems and boats built on over 80 years of
ingenuity and intensive consumer focus. Through its portfolio of
industry-leading and distinctive brands featuring Ski-Doo and Lynx
snowmobiles, Sea-Doo watercraft and pontoons, Can-Am on and
off-road vehicles, Alumacraft and Quintrex boats, Manitou pontoons and Rotax marine propulsion
systems as well as Rotax engines for karts and recreational
aircraft, BRP unlocks exhilarating adventures and provides access
to experiences across different playgrounds. The Company completes
its lines of products with a dedicated parts, accessories and
apparel portfolio to fully optimize the riding experience.
Committed to growing responsibly, BRP is developing electric models
for its existing product lines and exploring new low voltage and
human assisted product categories. Headquartered in Quebec, Canada, BRP has annual sales of CA$10
billion from over 130 countries and a global workforce of close to
23,000 driven, resourceful people.
www.brp.com
@BRPNews
Ski-Doo, Lynx, Sea-Doo, Can-Am, Rotax, Alumacraft, Manitou, Quintrex, and the BRP logo are
trademarks of Bombardier Recreational Products Inc. or its
affiliates. All other trademarks are the property of their
respective owners.
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SOURCE BRP Inc.