Investing.com -- Winnebago Industries Inc (NYSE:WGO) announced on Thursday that interim CEO Robert Olson will step down from the position effective September 24.
If the position is not filled by the date, the company also announced on Thursday that Larry Erickson, the Chairman of the Board of Directors, will fill the role on a temporary basis. Winnebago, one of the largest manufacturers of motor-home vehicles in the U.S., announced in March that it was opening a plant in Waverly, Iowa to address a labor shortage in Forest City, where the company is headquartered.
Last month, former Winnebago announced the retirement of former CEO Randy Potts after 32 years of service with the company. Olson, meanwhile, was elected as president of the company's board in 2007 after more than 35 years with Winnebago.
“We thank Bob for stepping into the CEO role during this time of transition for the Company and wish him well in his retirement," Erickson said in a statement.
Shares in Winnebago closed up 0.17 or 0.85% at 20.13 on Thursday. During Winnebago's third quarter of fiscal year 2015 which ended in late-May, the company reported quarterly operating cash flow generation of $52.6 million. Winnebago's board also approved a dividend of 0.09 per share for the quarter.
“We are continuing our search for a permanent CEO and are confident we will have the position filled in the near future," Erickson added. "Things are looking positive at Winnebago and we are very excited about the possibilities that await us. To the extent necessary, I will step into the role of CEO for a short period of time until a permanent CEO is named.”