BRP'S PRESIDENT AND CEO, JOSÉ BOISJOLI, TO RETIRE BY THE END OF THE FISCAL YEAR AFTER 22 YEARS AT THE HELM OF THE CORPORATION

Rhea-AI Summary

BRP Inc. (NASDAQ: DOOO) announced that President and CEO José Boisjoli will retire by the end of fiscal year 2025 after leading the company for 22 years. During his tenure, Boisjoli transformed BRP from a Bombardier spin-off into a global Powersports leader, significantly expanding its product portfolio and market presence. Under his leadership, the company's revenue more than tripled and its Powersports market share increased threefold, with BRP products now representing one-third of global sales. The Board of Directors is actively conducting a search for his successor, and Boisjoli will continue to lead until the new appointment is made. He will also step down from his position as Chair of the Board upon retirement.

Positive

• Tripled company revenue during 22-year tenure
• Achieved threefold increase in Powersports market share
• Expanded to seven product lines covering all seasons
• Built strong market position with 1/3 of global Powersports sales
• Seasoned executive team in place to ensure smooth transition

Negative

• Potential leadership uncertainty during transition period
• Risk of strategic direction changes under new leadership

Insights

Corporate Leadership Expert

CEO Boisjoli's retirement after 22 successful years signals a major leadership transition that introduces strategic uncertainty despite BRP's strong market position.

José Boisjoli's announced retirement marks the end of a remarkable 22-year tenure that transformed BRP from a Bombardier spin-off into a dominant global Powersports leader. Under his leadership, the company achieved threefold market share growth and more than tripled its revenue, while expanding from a specialized manufacturer to a diversified powersports powerhouse with seven product lines.

The timing of this announcement is particularly noteworthy - Boisjoli will remain until his successor is appointed, which should occur by the end of the fiscal year. This provides a substantial transition period that minimizes operational disruption and allows for a thorough executive search. The Board is conducting this search as part of what they describe as an "ongoing succession plan," suggesting this isn't a sudden development but rather a carefully orchestrated leadership transition.

What's most impressive about Boisjoli's legacy is the complete transformation of BRP's competitive positioning. His vision expanded the company from a seasonal business into an all-season powersports leader with the claim that "one out of every three products sold worldwide carries the BRP logo." This market dominance creates a challenging benchmark for any successor.

However, leadership transitions of this magnitude inevitably create strategic uncertainty. When a visionary CEO who has defined a company's culture and strategy for over two decades departs, questions naturally arise about potential strategic shifts under new leadership. While the current executive team will provide continuity, investors should watch closely for any subtle changes in strategic direction once the new CEO is named.

VALCOURT, QC, May 29, 2025 /PRNewswire/ - BRP Inc. (TSX: DOO) (NASDAQ: DOOO) today announced that, after 22 years as President and Chief Executive Officer, José Boisjoli has informed the Board of Directors ("Board") of his intention to retire by the end of the fiscal year, at which time he will also step down from his role as Chair of the Board. During his tenure, Mr. Boisjoli spearheaded BRP's remarkable growth story, from a Bombardier spin-off to a publicly traded, global leading Powersports OEM. As part of an ongoing succession plan, BRP's Board is conducting a search for the Corporation's next President and CEO. Mr. Boisjoli will continue to lead BRP until the appointment of his successor.

In 2003, Mr. Boisjoli, who was then President of the Snowmobile and Watercraft division of Bombardier, became President and CEO of BRP on the day it became a standalone company. Mr. Boisjoli laid out his vision for the making of BRP as we know it today. Under his leadership, the Corporation diversified its product portfolio, dealer and distributor network and manufacturing footprint, propelling its growth and more than tripling its revenue¹. With seven product lines covering every single season, BRP's Powersports market share increased threefold¹ over the past two decades: today, one out of every three products sold worldwide carries the BRP logo.

"Leading BRP has never been a job: it's been a work of passion and a true honor," said José Boisjoli, President and CEO of BRP. "During my 36-year career at BRP, I have had the privilege to shape its DNA alongside brilliant minds and talented people who have relentlessly pushed the limits of innovation to offer the best experiences to our riding communities. Reflecting on my journey, I am proud that we have proven ourselves capable of changing the name of the game within the Powersports industry and built a strong organization that is well positioned for the long-term. I am grateful for everyone who contributed to BRP's success."

"On behalf of the Board, I want to thank José for guiding BRP on a tremendous path of growth and diversification over the past 22 years, and for his stewardship of the business," said Barbara Samardzich, Lead Director of BRP's Board of Directors. "He has led with purpose and vision, implementing impactful strategies that have resulted in strong value creation and significant returns for shareholders. José has surrounded himself with a seasoned executive team and, together, they will continue driving the business plan and facilitate a smooth transition to a new CEO, when the time comes."

In a separate press release issued today, BRP announced its financial results for the first quarter of fiscal year 2026. The Corporation will hold a conference call and live webcast to discuss these results at 9:00 a.m. Eastern Daylight Time, followed by its Annual and Special Meeting of Shareholders conducted by live webcast at 11:00 a.m.

Forward-Looking Statements

Certain statements included in this press release, including statements relating to the expected timeline for retirement and transition to a successor, statements relating to BRP's position for long-term success, and statements relating to the executive team and their ability to drive the business plan and facilitate a smooth transition, 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 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 are made as of the date of the press release (or as of the date they are otherwise stated to be made), and 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, 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, 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. Headquartered in Quebec, Canada, BRP had annual sales of CA$7.8 billion from over 130 countries and employed approximately 16,500 driven, resourceful people as of January 31, 2025.

www.brp.com

@BRPNews

Ski-Doo, Lynx, Sea-Doo, Can-Am, Rotax, 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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1 All information with respect to the evolution of the Company since 2003 has been determined on the basis of internal calculations using the information reasonably available to BRP, including for the period of time during which the Company was private.

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SOURCE BRP Inc.

FAQ

When is BRP CEO José Boisjoli retiring?

José Boisjoli will retire by the end of fiscal year 2025.

How long was José Boisjoli CEO of BRP (DOOO)?

José Boisjoli served as President and CEO of BRP for 22 years, since 2003 when the company became independent from Bombardier.

What were José Boisjoli's major achievements at BRP?

Under Boisjoli's leadership, BRP tripled its revenue, increased Powersports market share threefold, and expanded to seven product lines, achieving one-third of global Powersports sales.

Who will replace José Boisjoli as BRP CEO?

BRP's Board of Directors is currently conducting a search for the next President and CEO. No successor has been announced yet.

Will José Boisjoli remain on BRP's Board of Directors?

No, Boisjoli will step down from his role as Chair of the Board when he retires as CEO by the end of fiscal year 2025.