#United States #Elkhart #THOR Industries #JAYCO #RV Manufacturing

THOR Industries Restructures North American RV Operations

In a groundbreaking move for the recreational vehicle industry, THOR Industries, Inc., the leading global manufacturer of RVs, has announced a major restructuring of its North American operating model. This strategic shift involves the formation of two distinct RV groups aimed at enhancing competitiveness, improving collaboration, and unlocking significant operational synergies among its renowned RV brands.

Understanding the Change

For many years, THOR's decentralized approach—where each North American RV OEM functioned independently—yielded positive results, allowing the company to achieve a leading market position. However, the rapid consolidation among dealers, coupled with changing consumer expectations and demands for operational scalability, has prompted a reevaluation of this structure. Recognizing that the North American RV industry is evolving, THOR embarked on building a foundation for greater alignment across its brands over recent years.

Bob Martin, President and CEO of THOR Industries, stated, "The RV industry has undergone significant transformation, particularly after the disruptions caused by the COVID-19 pandemic. In response, THOR is embracing change to unify our approach and ensure we meet consumer needs effectively. This evolution empowers our teams and our dealers to work harmoniously while retaining the entrepreneurial spirit that has always defined THOR."

Structure of the New Groups

Effective immediately, THOR will divide its North American RV OEM operations into two primary groups, each led by a seasoned executive.

1. Jayco and Tiffin Group:
- Led by Ken Walters, President of Jayco, this group will now include Tiffin Motorhomes alongside existing brands such as Entegra, Open Range, and Heartland. The integration of Tiffin, known for its craftsmanship and excellence in motorized units, promises to optimize their product lines and create greater market opportunities.
- Ken Walters will retain his role as President of Jayco while also becoming CEO of this combined group, focusing on leveraging their combined strengths.

2. Thor Motor Coach Group:
- This group will be led by Jeff Kime, President of Thor Motor Coach, and will encompass brands including Keystone, Dutchmen, and Crossroads. With this formation, Kime will act as CEO while Troy James, the Senior Vice President of International Business Operations, steps up as Chief Operating Officer, bringing a wealth of operational expertise.
- This collaboration is set to streamline processes and maximize the efficiencies of both Thor Motor Coach and Keystone, thereby fortifying their competitiveness in the marketplace.

Despite these changes, brands like Airstream and KZ will maintain their independent operations, although enhanced collaboration across all brands is expected to maximize the benefits from enterprise-level initiatives.

Strategic Advantages

THOR anticipates several key benefits from its new group structure, aiming to achieve:

• - Efficient Sourcing and Coordination: By aligning suppliers and optimizing sourcing strategies, THOR can ensure cost discipline and continuity of supply.
• - Standardization and Process Improvement: The company plans to introduce operational efficiencies that will boost quality and consistency across its product lines.
• - Focused Brand and Portfolio Management: More intentional capital allocation will facilitate targeted investment in product innovation.
• - Data and Digital Integration: Strengthening analytics and customer engagement capabilities through unified systems is a priority, ensuring a seamless experience for dealers and end-users.

Bob Martin remained optimistic during the announcement, stating, "We are strategizing for the future, ensuring that our brands not only remain robust individually but also leverage the advantages that come with being part of a larger organization. With the leadership of Ken and Jeff, we're poised for significant growth."

As the RV landscape continues to evolve, THOR's proactive restructuring reflects its commitment to meeting consumer demands and leading the industry into a new era. With a strong emphasis on collaboration and innovation, THOR Industries is setting the stage for unprecedented success across its family of brands in North America and beyond.

For more information about the latest developments at THOR Industries, visit their official website at www.thorindustries.com.