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Arctic Cat chairman, CEO steps down

THIEF RIVER FALLS, Minn. - Arctic Cat said Monday its chairman and CEO Claude Jordan has stepped down.

Serving as his replacement in the interim will be Chris Twomey, a member of Arctic Cat's board of directors and a former CEO who served the company for 24 years.

Jordan, who has been with Arctic Cat for six years, has been CEO for the last three; he was earlier president and chief operating officer.

The company said that during his tenure, annual sales grew from $465 million to $700 million.

Chief Financial Officer Tim Delmore has agreed to postpone his previously announced retirement during the transition period.

The company said it anticipates hiring both a new CEO and CFO in the coming months.

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