THOR Industries is making another round of leadership changes as the RV giant moves toward tighter coordination across its North American brands, including Jayco, Keystone, Tiffin and Thor Motor Coach.
Effective immediately, Ken Walters has been named President of North American RV operations, according to a September 10 announcement from THOR Industries.
Walters had been serving as President of Jayco while also leading the group containing Jayco and Tiffin Motorhomes. In his new position, he will coordinate North American RV operations across THOR’s operating companies.
Nic Martin, previously Vice President of Sales at Jayco, will replace Walters as Jayco President.
THOR also announced several other leadership changes:
- Troy James, currently Chief Operating Officer of the Thor Motor Coach and Keystone group, will become President of Keystone.
- Mike Ritchie, Vice President of Finance at Jayco, will become CFO of North American RV operations.
- Trey Miller, Vice President of Marketing at Jayco, will become Chief Marketing Officer of North American RV operations.
THOR is moving toward a more unified structure
The changes are part of a broader restructuring that began earlier this year.
In February, THOR announced that most of its North American RV manufacturers would be organized into two operating groups.
One group, led by Walters, included Jayco, Entegra Coach, Open Range, Heartland and Tiffin Motorhomes. A second group led by Thor Motor Coach President Jeff Kime included Thor Motor Coach, Keystone, Dutchmen and CrossRoads.
After working under that structure for several months, THOR said its leadership concluded that coordinating operations across all of its North American RV companies could produce greater benefits more quickly.
THOR President and CEO Bob Martin said the company has operated under a decentralized structure for decades but sees the potential for “significant benefits and cost savings” from greater coordination.
The company now plans to operate through three primary groups: North American RV, Europe, and Supply.
Cost and RV affordability are part of the strategy
THOR says the restructuring also aims to cut costs and improve financial performance during a difficult period for the RV market.
Todd Woelfer, THOR’s Senior Vice President and Chief Operating Officer, said in the company’s announcement that THOR is working to reduce costs internally rather than simply passing rising expenses on to RV buyers and dealers.
Affordability has become a growing focus for RV manufacturers as consumers continue to face higher borrowing costs and elevated prices.
THOR reported in June that its North American RV realignment was already underway, with management assessments largely complete and new initiatives ready to implement. The company said it expected to begin seeing benefits from the restructuring as those initiatives moved forward.
THOR is the parent company of some of the largest brands in the RV industry, including Jayco, Keystone, Thor Motor Coach, Tiffin Motorhomes, Airstream, Heartland, Dutchmen and Entegra Coach.
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