After an impressive 22 years at the helm, José Boisjoli, the chairman and CEO of BRP Inc., is set to retire this week. Under his leadership, the Canadian manufacturer of renowned snowmobiles and watercraft has seen remarkable growth and diversification, paving the way for his successor, Denis Le Vot, a former executive at Renault Group.
Leadership Transition at BRP
Boisjoli’s departure marks the end of an era for BRP, which has thrived since separating from Bombardier Inc. in 2003. While the average tenure for a CEO in companies listed on the S&P/TSX Composite Index is approximately 6.6 years, Boisjoli’s lengthy leadership is indicative of BRP’s strong family-oriented foundation. Alaric Bourgoin, an expert in CEO dynamics from HEC Montreal, notes that family-controlled companies often prioritise long-term stability and internal promotions, favouring continuity in leadership.
Under Boisjoli’s guidance, BRP has transformed from a small player in the powersports sector into an $8 billion enterprise. The company has expanded its workforce significantly and quadrupled its stock price, capturing a substantial share of the market. Barbara Samardzich, lead independent director at BRP, commended Boisjoli for his disciplined execution of a clear strategic vision that has created considerable value for stakeholders.
Achievements and Challenges
Reflecting on his tenure, Boisjoli expressed pride in the company’s achievements. “When we became BRP on December 18, 2003, we were the smallest player in the industry,” he recalled. Boisjoli implemented a strategy focused on diversifying the product portfolio and enhancing product quality, which has led to a significant increase in sales—from $2.5 billion to approximately $8.5 billion—while expanding operations globally.
Despite these successes, Boisjoli acknowledged setbacks, particularly in the marine sector. Following the acquisition of several brands, including Manitou and Alumacraft, the onset of COVID-19 hindered development efforts, resulting in the eventual sale of those businesses. Nonetheless, he remains optimistic about the future of powersports, emphasising that the industry will adapt to evolving environmental regulations while continuing to deliver unique experiences to customers.
The Future of BRP
As Boisjoli prepares to pass the baton to Denis Le Vot, he expressed confidence in his successor. Le Vot brings extensive international experience, particularly in markets where BRP has yet to establish a strong presence. Boisjoli’s decision to retire was influenced by a desire for a timely transition, stating, “It’s a question of age and timing, as simple as that.”
Looking ahead, Boisjoli remains unfazed by potential challenges such as U.S. tariffs on goods from Mexico and Canada, asserting that BRP’s adaptability and long-standing industry relationships will help navigate any obstacles.
Embracing Retirement
As he steps away from the demanding role of CEO, Boisjoli plans to take time for personal reflection and leisure activities. He is eager to embrace a life without a rigorous agenda, although he admits the prospect is both liberating and daunting. “I want to enjoy life a bit more,” he shared, hinting at plans for recreational snowmobiling.
Why it Matters
Boisjoli’s departure comes at a pivotal moment for BRP, as the company stands poised to continue its trajectory of growth and innovation under new leadership. His legacy will undoubtedly shape the future of the powersports industry, particularly as the sector grapples with environmental concerns and competitive pressures. The transition to Le Vot represents not just a change in leadership but a new chapter for BRP, one that could redefine its role in a rapidly evolving market landscape.
