LISLE, IL – Navistar has elected Troy A. Clarke, the company’s president and Chief Executive Officer, as the latest chairman of the board.
Clarke replaces the retiring James H. Keyes, in a shift that became effective at the company’s annual shareholder meeting on February 14. Keyes has served as non-executive chairman since April 2013. General Stanley A. McChrystal (ret) was elected as an independent lead director.
“It has been a pleasure to serve on the board for the last four years, and I am honored to have been elected chairman,” said Clarke. “This is an exciting time for Navistar, as we pursue our growth strategies highlighted by significant new product launches and our pending strategic alliance with Volkswagen Truck and Bus. I look forward to continuing to work with our very dynamic board, which is focused on the future and supportive of management’s efforts to create a great truck company.”
Volkswagen is taking a 16.6% stake in the Illinois-based manufacturer, forming a strategic alliance that will bring a Volkswagen powertrain to North America as early as 2019. Volkswagen AG also holds interests in MAN, Scania, and Caminhoes e Onibus truck brands. Navistar reportedly accounts for one in every four Class 6-8 trucks on Canadian and American roads, in addition to vehicles sold in Mexico and Latin America.
The company launched its new flagship line of Class 8 over-the-road trucks — the International LT Series — last fall.
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