Thor Industries promotes Bob Martin to CEO

ELKHART, Ind. (AP) -- Recreational vehicle maker Thor Industries Inc. said Monday that President and Chief Operating Officer Bob Martin will become its CEO on Aug. 1.

Martin, 43, will also join the board of directors on that date. Peter Orthwein will give up the CEO role but will remain chairman of the company.

Martin became president and operating chief of Thor on Aug. 1. Before that he was president of its RV group, which manufactures more than 20 brands including Airstream, Sunset Trail, Prowler and Road Warrior. The company also sells buses.

Thor shares closed Monday trading up $1.14, or 2.5 percent, at $47.30. It's gained more than 26 percent since the start of the year.