Coachmen Industries ( COA) said Claire Skinner, the RV maker's chairman and chief executive, has decided to take an early retirement and resign from the board.

William Johnson, formerly lead director, has been elected as nonexecutive chairman. Richard Lavers, Coachmen's chief financial officer, will become CEO, and Colleen Zuhl, previously the company's controller, has been named financial chief.

Additionally, the board cut its dividend in half, to 3 cents a share, and authorized a buyback covering up to 1 million shares.

Shares of Coachmen were advancing 62 cents, or 6.8%, to $9.78 Tuesday.