Kay L. Toolson
CEO
Monaco Coach Corporation
Eugene Oregon
Distinguished Executive Alumnus Award – 2007
A native of Smithfield, Utah, Mr. Toolson completed his Bachelor of Science degree in business administration from Utah State University in 1968. Following graduation, he accepted a position with the Xerox Corporation. Mr. Toolson returned to Utah State University in 1970, earning his M.B.A. through Xerox's continuing education program.
Mr. 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, Mr. Toolson joined Anaheim, California-based, motor home manufacturer, Executive Industries, as a minority owner and executive vice president of operations, a position he held until 1986.
Mr. Toolson joined Coburg, Oregon-based, Monaco Coach Corporation in 1986 and completed a management buyout of the company in 1993. He has served as chief executive officer for the company since 1986 and as chairman since July 1993. From 1986 to 1995, Mr. Toolson also served as the company's president.
Monaco Coach Corporation conducted an initial public stock offering with shares listed on the NASDAQ exchange following the 1993 management buyout. In 1996, the company completed a $60 million acquisition of Holiday Rambler Recreational Vehicles, a well-known industry brand previously owned by Harley-Davidson. In late 1998, Monaco Coach Corporation shares began trading on the New York Stock Exchange (NYSE:MNC). As part of the company-listing ceremony, Mr. Toolson and his management team were invited to New York to ring the NYSE opening bell.
During Mr. Toolson's tenure with Monaco Coach Corporation, the company has grown from a small, specialty recreational vehicle manufacturer, recording $17 million in annual revenue to a 5,400-employee company that produces a broad spectrum of recreational vehicles and generates annual revenue in excess of $1.3 billion.
In addition to his role with Monaco Coach Corporation, Mr. Toolson has also held various leadership positions with recreational vehicle industry associations.
Outside of the recreational vehicle industry, Mr. Toolson is an active local community member, giving his time to a variety of charities. He also serves on the board of Paragon Medical, Inc., a manufacturer of surgical instruments and implant components, based in Warsaw, Indiana.
Mr. Toolson lives in Eugene, Oregon, with Judy, his high school sweetheart and wife of 41 years, and their two labrador retrievers, Buck and Duke.
Monaco Coach Corporation
Monaco Coach Corporation is one of the world's largest and most innovative manufacturers of recreational vehicles and is the leading producer of luxury diesel motor homes. Founded in 1968 and headquartered in Coburg, Oregon, with significant manufacturing facilities in Indiana, the corporation employs more than 5,400 people and has four million square feet of state-of-art production and service facilities.
The corporation's broad product line includes entry-level towable RVs up to custom-made luxury recreational vehicle models under the Monaco, Holiday Rambler, Safari, Beaver, McKenzie, R-Vision, and Dodge brand names. Monaco Coach maintains RV service centers in Harrisburg, Oregon; Elkhart, Indiana; and Wildwood, Florida.
In 1996, Monaco acquired Wakarusa, Indiana-based, Holiday Rambler, which has been producing industry-leading recreational vehicles for more than 50 years. The acquisition expanded the company's product line from diesel motor homes to include gasoline-powered motor homes and mid- to luxury-level travel trailers and fifth-wheel towables.
In 2001, Monaco Coach acquired SMC Corporation, adding the popular Beaver and Safari brands to its extensive line of motor homes. The company's product portfolio was completed with the 2005 acquisition of Warsaw, Indiana-based, R-Vision. R-Vision is a leading manufacturer of lightweight and entry-level travel trailers, hybrid trailers and fifth-wheel recreational vehicles based on the Trail-Lite brand name. Monaco also has an exclusive agreement with the Dodge brand for use of the Dodge logo and designs on travel trailers, fifth wheels and toy haulers in the U.S. and Canada.
Currently, Monaco Coach is the largest builder of Class A diesel motor homes, the second largest Class A motor home manufacturer, and the fifth largest manufacturer of travel trailers and fifth wheels.
The company is also engaged in the development of motor home resorts in Las Vegas, Nevada; Naples, Florida, and two in Palm Springs, California.
In 2006, the corporation experienced sales revenues of $1.3 billion, distributing products across North America through a network of more than 700 retail dealers.
The company is the recipient of several highly coveted industry awards, which honor the best manufacturers in the industry as rated by their dealers. Monaco Coach Corporation has also been included in Fortune Magazine's 1000 Largest Companies list.
Monaco Coach Corporation trades on the New York Stock Exchange under the symbol MNC and the company is included in the S&P Small-Cap 600 stock index. For additional information about Monaco Coach Corporation, please visit www.monaco-online.com.