Clarke Named Navistar CEO
In a move that was not especially unexpected, Navistar International Corp. has announced that current Chief Operating Officer Troy Clarke will become the company’s chief executive officer and a member of the board of directors, effective April 15. Clarke succeeds Lewis Campbell, who was named interim CEO following the departure of former CEO Dan Ustian last August.
Navistar also announced it was separating the roles of CEO and chairman, naming James Keyes as its new non-executive chairman. Keyes, a retired chairman of Johnson Controls, has been a member of Navistar’s board since 2002. "We believe that separating the chairman and CEO roles at this time will enable Troy to focus exclusively on continuing to successfully execute the company's turnaround plan and putting the company on a path to profitability entering fiscal year 2014," Keyes said.
Campbell said the company’s recent moves made it the right time for him to move on. “Over the past six months, Navistar has made significant progress on many important fronts, including on our three near-term priorities: improving quality, meeting each of our clean engine launch milestones, and delivering on our 2013 operating plan," Campbell said. "When I assumed the interim CEO role last August, I was prepared to stay as long as necessary to oversee the company through a transition period and today I am pleased to announce our turnaround is firmly underway and our return to profitability is clearly in sight.
“I am also delighted that the board and I have decided that Troy is the right executive to lead the company forward at this time, and I am confident Navistar will continue to build on its momentum – improving performance and quality for customers and creating shareholder value."
Clarke's ascension tops what has been something of a meteoric rise at Navistar since he joined the company in early 2010. Starting as president of Navistar Asia Pacific, he became president and chief operating officer in 2012 following Ustian’s retirement. He came to the company following a 35-year career at General Motors, where he held numerous leadership positions, including president of General Motors North America, president and managing director of GM's Mexico operation, vice president of manufacturing and labor relations and president of GM Asia Pacific.
"I am honored to take on the role of CEO and join the board of Navistar," Clarke stated. "In six short months, we have made significant progress on our turnaround, and I want to thank Lewis for his guidance and leadership during this period. Working together, we have implemented a number of important actions to set Navistar on the right path, and the company now has a strong platform to build upon going forward.
"Navistar has a great leadership team and a talented group of employees. I look forward to continuing to work with them as we take further steps to strengthen our North American core businesses, improve quality and customer satisfaction, drive future profitability, and deliver value to shareholders."