Kay Toolson, president of Monaco RV LLC, will retire the end of June.
After 25 years at the helm of Monaco RV and Monaco Coach Corp., 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, according to a news release.
A native of Smithfield, Utah, Toolson joined the recreational vehicle 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.-based motorhome manufacturer Executive Industries as a minority owner and executive vice president of operations, a position he held until 1986.
Toolson joined Oregon-based Monaco Coach Corp. in 1986 and completed a management buyout of the company in 1993, and took the company public that same year. He served as president for the company from 1986 to 2000, CEO from 1986 to 2009, and as chairman from 1993 to 2009.
During his tenure with Monaco , the company grew from a small, specialty RV manufacturer recording $17 million in annual revenue to a 5,70-employee company producing a broad spectrum of RVs and annual revenue in excess of $1.4 billion.
The company filed for bankruptcy in 2009 and was subsequently purchased by Navistar Inc. Since that purchase, Toolson has served as president of Monaco RV.
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.