BRP Announces Planned Financial Leadership Transition
BRP details a long-planned CFO succession, with outgoing CFO Sébastien Martel advising through April 2027 while incoming CFO Minh Thanh Tran takes over in October 2026.
Rhea-AI Summary
BRP (DOO) announced a planned CFO transition, with Minh Thanh Tran succeeding Sébastien Martel effective October 1, 2026.
Martel will become Executive Advisor to the CEO until his retirement in April 2027, supporting a smooth handover. The company describes this as part of a long-planned succession strategy. Tran has led key initiatives since joining BRP in 2017, including implementing a new North American ERP system, developing the M28 strategic plan, and advancing BRP’s manufacturing footprint in Asia, after earlier investment and corporate banking roles at Lazard and BMO Capital Markets.
Positive
- Orderly CFO succession with defined dates New CFO Minh Thanh Tran takes over on October 1, 2026, under a long-planned transition strategy.
- Continuity via advisory role Outgoing CFO Sébastien Martel remains Executive Advisor to the CEO until his retirement in April 2027.
- Experienced internal successor Tran has led major projects since 2017, including a new North American ERP system, the M28 strategic plan, and expansion of BRP’s manufacturing footprint in Asia.
- Deep capital markets background Before BRP, Tran worked in investment and corporate banking at Lazard and BMO Capital Markets and was involved in BRP’s 2013 IPO.
Negative
- Long-serving CFO retiring After more than 20 years at BRP and 12 years as CFO, Sébastien Martel is scheduled to retire in April 2027.
Market Reaction – DOO
Following this news, DOO has declined 1.77%, reflecting a mild negative market reaction. The stock is currently trading at $62.18. Trading volume is exceptionally heavy at 9.1x the average, suggesting significant selling pressure.
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Chief Financial Officer Sébastien Martel to Retire
Minh Thanh Tran to Be Appointed Chief Financial Officer
"On behalf of BRP and our Board of Directors, I would like to sincerely thank Sébastien for his unwavering commitment and outstanding contributions over his 20+ years at BRP. His leadership, strategic vision, and financial discipline truly contributed to making BRP the Company it is today," said Denis Le Vot, President and CEO of BRP.
Throughout his 12-year tenure as CFO, alongside his seasoned finance team, Sébastien Martel helped build a strong and resilient Company with a proven track record of solid profitable growth delivering robust shareholder returns while maintaining strong financial discipline. Mr. Martel also played a pivotal role in some of the Company's key historic milestones, including leading its successful initial public offering on the Toronto Stock Exchange in 2013, named IPO of the Year, and its subsequent listing on NASDAQ in 2018.
BRP is pleased to name Minh Thanh Tran as BRP's new CFO. In his new role, Mr. Tran will continue building on the Company's solid foundation and lead its financial strategy, supporting the execution of its business priorities and long-term growth ambitions.
"With his proven leadership, strong financial acumen and experience, and deep understanding of the powersports industry, Minh Thanh is the right person to succeed Sébastien, lead BRP's financial organization and help shape our next chapter of growth," added Denis Le Vot. "Our thorough CFO transition to such a high-quality internal successor reflects the strength of our executive team and our commitment to further position the business for lasting success."
Since joining BRP in 2017, Minh Thanh Tran has built a remarkable leadership track record across corporate strategy, mergers and acquisitions, transformation, and product strategy. He has spearheaded several key initiatives that have driven BRP's success, including leading the implementation of a new North American ERP system, developing BRP's M28 strategic plan and paving the way for the Company's manufacturing footprint in
CAUTION CONCERNING FORWARD-LOOKING STATEMENTS
Certain statements included in this press release, including statements relating to the appointment of a new Chief Financial Officer (CFO) for BRP, the transition process with the departing CFO, the anticipated impact of the appointment of the new CFO on the Company's business priorities and long-term growth ambitions constitute "forward-looking statements" within the meaning of applicable 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 nature, involve inherent risks and uncertainties and are based on a number of assumptions, and are subject to important risks and uncertainties, both general and specific, made by the Company in light of its experience and perception of historical trends. Forward-looking statements cannot be relied upon due to, amongst other things, changing external events and general uncertainties of the business. Forward-looking statements are subject to numerous factors, many of which are beyond BRP's control, including the risk factors disclosed previously and from time to time in BRP's filings with the securities regulatory authorities in each of the provinces and and territories of Canada and the United States, available on SEDAR+ at sedarplus.com or EDGAR at sec.gov, respectively. The forward-looking statements contained in this press release (or as of the date they are otherwise stated to be made) are subject to change after such date and the Company has no intention and undertakes no obligation to update or revise any forward-looking statements to reflect future events, changes in circumstances, or changes in beliefs, unless required by applicable securities regulations.
About BRP
BRP Inc. is a global leader in the world of powersports products and powertrains, built on over 80 years of ingenuity, innovation, 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, Quintrex boats as well as Rotax engines for karts, recreational aircraft and jet boats, BRP unlocks exhilarating adventures and provides access to experiences across different playgrounds. The Company completes its product lines with a dedicated parts, accessories and apparel portfolio to fully optimize the riding experience. Headquartered in Quebec, Canada, BRP had annual sales of CA
Ski-Doo, Lynx, Sea-Doo, Can-Am, Rotax, 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.