LISLE, Ill. – Navistar International has named Persio V. Lisboa president and chief executive officer. Troy A. Clarke, who has held the role since April 2013, and been board chairman since February 2018, will serve in the newly created position of executive chairman.

The changes are effective July 1.

“I have enjoyed the opportunity to lead Navistar for the last seven years, but it’s now my intention to move toward retirement,” Clarke said. “Persio is a strong leader with a proven record of driving results. He understands our industry, knows our business segments and will position the company to capitalize on the opportunities ahead.”

He continued to describe Lisboa as a champion of the company’s Navistar 4.0 business strategy.

“Persio’s performance history is exactly what’s required by Navistar as we transition into our next chapter, one I’m confident will be even more transformational and exciting than our last,” he said.

In the role of executive chairman, Clarke will focus on the leadership transition and continue to manage discussions with Traton, including its Jan. 30 proposal to acquire Navistar at $35 per share.

Lisboa, 54, has been with Navistar since 1988 and served as executive vice-president and chief operating officer since March 2018. He had also served in positions in the U.S. and South America, including president of operations and chief procurement officer.

“On behalf of our employees, dealers, customers and shareholders, I want to thank Troy for leading Navistar through a difficult period, establishing our global alliance with TRATON and returning our company to growth and profitability,” Lisboa said.