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Inside Business: Arctic Cat chief exec Jordan steps down

MINNEAPOLIS – Arctic Cat Inc. announced Monday that Claude Jordan stepped down as chairman and chief executive officer.

Chris Twomey has been named interim chairman and CEO. An executive search firm is being retained to assist in finding a permanent CEO.

Twomey was Arctic Cat’s CEO from 1986 to 2010. He is a former chairman and a current member of the board of directors.

Jordan worked for Arctic Cat for nearly six years, first as president and chief operating officer, and then as CEO for three years.

A news release said Jordan and the board “mutually decided this is the right time” for new executive leadership.

Arctic Cat, based in Thief River Falls, Minn., produces all-terrain vehicles and snowmobiles, as well as related parts, garments and accessories. It trades on the NASDAQ market under the symbol ACAT.

Coffee bar moving into Loretta Building FARGO – The Loretta Building at 210 Broadway in downtown Fargo will soon be home to Stumbeano’s Coffee Bar.

Owner Greg Stumbo currently operates Stumbeano’s Coffee Roasters in Fergus Falls, Minn.

He is also a partner in Café 116, a restaurant/coffee shop in Fergus Falls.

Stumbo said the Fargo shop will take up about 750 square feet of space in the lower level of the Loretta Building.

In addition to being a coffee bar, the space will be a training center for local wholesale customers of Stumbeano’s roasted coffee, Stumbo said.

He said the shop is expected to open by mid-July.

Ash trees to be replaced near downtown bank FARGO – Several ash trees in downtown Fargo will be replaced through a collaboration between Gate City Bank and the city Forestry Department.

Gate City Bank, 500 2nd Ave. N., is replacing the street trees around the perimeter of its parking lot and planting more than 1,000 perennials. A green living parking lot divider covered in ivy will be added.

The parking lot, sidewalks, curb and gutter, driveway approaches, signage and lighting around the building are also being updated.

Work is expected to be completed by this fall.