BRP Announces Additional Measures to Manage COVID-19 Impact

BRP Inc. has announced a series of additional measures in light of the COVID-19 pandemic. After slowing down and temporarily suspending manufacturing at all our powersports and marine operations sites around the world, BRP are taking additional actions, including cost-containment measures and changes in employee compensation to protect our financial flexibility and long-term growth.

“These are challenging and unpredictable times. We are taking all the necessary decisions to protect our employees, ensure BRP’s long-term growth and be ready to react quickly should the markets recover faster than expected,” commented José Boisjoli, president and CEO of BRP.

“We entered this crisis from a strong position, with significant market share and financially solid. And with key strengths to rely on: our product portfolio, geographic sales and manufacturing footprint. This, along with the talent and resilience of our people and our experienced management team, provides us with a solid base to navigate through this period of uncertainty,” concluded Boisjoli.

Changes in employee compensation

Following the slow down and temporary suspension of all our production lines worldwide and the temporary layoff of a majority of our hourly employees, certain measures have been put in place for office workers until further notice. Depending on the region and local regulations, they include:

A global hiring freeze;
Temporary layoffs and furlough for some employees;
Reduced work schedule in some countries;
Selected permanent layoffs.

In addition, until the end of the fiscal year:

Salary of all directors and vice presidents is reduced by 15%;
Salary of most office employees is reduced by 10%;
President and CEO, José Boisjoli, has decided to forgo his salary;
All remunerated members of BRP’s Board of Directors have elected to forgo the cash portion of their compensation.

We will continue to work with local authorities to access government emergency relief measures and wage subsidy programs, where available, in order to mitigate the impact on our employees.

Other cost-containment measures

In addition to these efforts, we are taking further steps to maintain our financial flexibility, which includes the reduction of our operating expenses and the postponement of certain capital expenditures, investments and projects in order to protect our long-term growth plan.

Link: BRP

The Sturgis Motorcycle Museum and Hall of Fame recently named Marilyn Stemp and Steve Piehl to its board of directors.

Stemp is a pioneering figure in the motorcycle industry, founding IronWorks Magazine with her late husband, Dennis, and becoming the first female editor of a nationally circulated, mainstream motorcycle magazine. She also revived their trade magazine, Iron Trader News; edits the monthly Kiwi Indian News; contributes to several powersports media outlets; and is the founding editor of Sturgis Rider Daily. Stemp is a noted editor and writer of several motorcycle-focused books. Her consistent support for charitable efforts in the industry include the annual Biker Belles Celebration, Las Vegas BikeFest and as campaign chair for the Sturgis Motorcycle Museum’s development plan in 2014. She co-founded the Flying Piston charity events taking place in Daytona and Sturgis each year and is a National Ambassador for All Kids Bike. Stemp was inducted into both the Las Vegas Motorcycle Hall of Fame and the Sturgis Museum's Hall of Fame in 2018, and in 2022 she was recognized as one of the Top 100 Women in Powersports by DealerNews.