Monaco RV has announced that president Kay Toolson will retire the end of June of this year.
After 25 years at the helm, Mr. Toolson will step away from the day-to-day operations, but still be involved in special projects and take an advisory role in the company.
A native of Smithfield, Utah, Toolson joined the RV industry in 1972 as product manager for Kings Highway Mobile Industries in Los Angeles, where he later held the positions of national sales manager and vice president.
In 1982, he joined Anaheim, Calif., motorhome manufacturer Executive Industries as a minority owner and executive vice president of operations, a position he held until 1986.
Toolson joined Eugene, Oregon-based Monaco Coach Corporation in 1986, completed a management buyout of the company in 1993, and took the company public that same year.
He served as Monaco president from 1986 to 2000, chief executive officer from 1986 to 2009, and as chairman from 1993 to 2009.
During his tenure with Monaco Coach Corporation, the company grew from a small, specialty RV manufacturer recording $17 million in annual revenue to a 5,700-employee company producing a broad spectrum of RVs and annual revenue in excess of $1.4 billion.
Since 2009, Toolson has served as president of Monaco RV, a Navistar company.
Monaco RV’s current management team will remain, reporting to William H. Osborne, the newly named vice president of Custom Products for Navistar, Inc. In this role, Osborne will have accountability for the Monaco RV and Workhorse business units.