UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K |
CURRENT REPORT
Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934
Date of report (Date of earliest event reported) December 15, 2010
Winnebago Industries, Inc. | ||
(Exact Name of Registrant as Specified in its Charter) | ||
Iowa | 001-06403 | 42-0802678 |
(State or Other Jurisdiction of Incorporation) | (Commission File Number) | (IRS Employer Identification No.) |
P.O. Box 152, Forest City, Iowa | 50436 | |
(Address of Principal Executive Offices) | (Zip Code) |
Registrant's telephone number, including area code 641-585-3535
______________________________________________________________________
(Former Name or Former Address, if Changed Since Last Report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneousl
y satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12
under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
(b) and (c) | On January 18, 2011, the Board of Directors of Winnebago Industries, Inc. (the "Company") announced the election of Randy J. Potts to the office of President of the Company and the relinquishment of the title of President by Robert J. Olson, the Company's Chairman and Chief Executive Officer. |
Mr. Potts' tenure with the Company and his business
experience can be found in the Company's Annual Report on Form 10-K for the fiscal year ended August 28, 2010, and such information is incorporated by reference herein.
In connection with his election, the Human Resources Committee of the Board of Directors determined that Mr. Potts will continue to participate in the Company's standard executive compensation programs. Effective January 17, 2011, he will receive an annual base salary of $315,000 and will (continue to) have an annual target of 60% of his annualized base salary at 100% achievement of performance under the Officers Incentive Compensation Plan for Fiscal 2011 and an annual target of 25% of his annualized base salary at 100% achievement of performance under outstanding Long-Term In
centive Plans.
A copy of the Company's press release relating to the above election is being filed as Exhibit 99.1 to this Form 8-K.
Explanatory Note
Item 9.01 Financial Statements and Exhibits
(d) | Exhibits |
Exhibit
Number Description
99.1 | Press release of Winnebago Industries, Inc. Announcing Election of Randy J. Potts to the Position of President, dated January 18, 2011. |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
WINNEBAGO INDUSTRIES, INC. | |||
(Registrant) | |||
Dated: | January 20, 2011 | By: | /s/ Robert J. Olson |
Name: | Robert J. Olson | ||
Title: | Chairman of the Board
and Chief Executive Officer | ||
Contact: Sheila Davis - PR/IR Mgr. - 641-585-6803 - sdavis@winnebagoind.com
RANDY POTTS ELECTED PRESIDENT
OF WINNEBAGO INDUSTRIES
FOREST CITY, IOWA, January 18, 2011 -- Winnebago Industries, Inc. (NYSE: WGO), a leading United States (U.S.) recreation vehicle manufacturer, today announced the Board of Directors elected Randy Potts to the position of President.
Potts, 52, is a 27-year veteran of Winnebago Industries and was promoted to the position of President effective immediately. Most recently serving as Senior Vice President, Strategic Planning, Potts joined Winnebago Industries in 1983 as a senior tool designer. He has served in various engineering and management positions since that time. In November 2009, he was promoted to the position of Senior Vice President, Strategic Planning and was responsible for new business development for the Company. Previously, Potts
had served as Vice President, Manufacturing, a position he held from 2006 to 2009.
Bob Olson will retain the position of Chairman and Chief Executive Officer of Winnebago Industries, while relinquishing his title of President in order to focus on the Company's overall direction.
“Randy has a great working knowledge of the Company and its operations, having worked in senior management positions within Winnebago Industries for over a decade,” said Olson. “Under his leader
ship, he directed the Company's recent diversification efforts, culminating in the announcement on December 29, 2010 of the new Winnebago of Indiana, LLC subsidiary, which will build SunnyBrook and Winnebago brand towable products. I have the utmost confidence that he will continue to help the Company grow for the future.”
Potts is a graduate of Hawkeye Institute of Technology in Waterloo, Iowa.
About Winnebago Industries
Winnebago Industries, Inc., The Most Recognized Name In Motor Homes®, is a leading U.S. manufacturer of recreation vehicles, which are used primarily in leisure travel and outdoor recreation activities. The Company builds quality motor homes, travel trailers and fifth wheel products under the Winnebago, Itasca, ERA and SunnyBrook brand names. Winnebago Industries has received the Quality Circle Award from the Recreation Vehicle Dealers Association every year since the award's inception in 1996. The Company's common stock is listed on the New York and Chicago Stock Exchanges and traded under the symbol WGO. Options for the Company's common stock are traded on the Chicago Board Options Exchange. For access to Winnebago Industries' investor relations material or to add your name to an automatic email list for Company news
releases, visit, http://www.winnebagoind.com/investor.html.
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