TROY, Mich. – Meritor has appointed Chris Villavarayan chief executive officer and president, the company has announced.

Villavarayan, currently executive vice-president and chief operating officer, will succeed Jay Craig, who will transition to the role of executive chairman of the board of directors at the end of February, Meritor said.

Meritor’s chairman, William R. Newlin, will become lead director of the board as part of the transition plan, it said.

“Under Jay’s leadership, Meritor has expanded its product portfolio, strengthened its financial foundation and delivered significant value to shareholders,” Newlin said.

“As Jay transitions to his new role, we are fortunate to have Chris, who has overseen global operations for the company, in addition to product and customer strategy and supplier relationship management, step in as CEO to help usher in the next phase of growth and innovation.”

Villavarayan has held a number of senior management roles since joining Meritor in 2000.

He also managed Meritor’s operations in India, leading Meritor Heavy Vehicle Systems (India) Ltd.

Villavarayan has an engineering degree from McMaster University in Hamilton, Ont.

Meritor is a leading global supplier of drivetrain, mobility, braking and aftermarket solutions for commercial vehicle and industrial markets.