Troy Clarke Named CEO of Navistar

Navistar International Corporation has announced that its Board of Directors has appointed Troy Clarke as president and chief executive officer of Navistar, effective April 15, 2013. Clarke, currently the company's president and chief operating officer, will also join the board. At the same time, Lewis Campbell, who has served as executive chairman and interim CEO since August 2012, will step down from those positions and from the board. James H. Keyes, who has served as a board member since 2002, will become non-executive chairman, also effective April 15.

Prior to serving as president and COO of Navistar, Clarke, 57, served as president of Navistar Asia Pacific. He joined Navistar in January 2010 after 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. He has a B.S. in mechanical engineering from General Motors Institute, as well as an M.B.A. from the University of Michigan.

Clarke is a member of the board of directors of Fuel Systems Solutions, Inc., a designer, manufacturer, and supplier of alternative fuel components and systems for use in transportation and industrial applications.

"On behalf of the Board of Directors, I want to thank Lewis for his valuable contributions to Navistar. He stepped in during a challenging period of transition for the company, and his leadership was critical in helping align our board and management around a clear path forward," Keyes said. "The board is also extremely pleased to name Troy as chief executive officer. He is a proven leader and has been a valuable asset to the executive team since joining the company in early 2010. During his recent tenure as president and chief operating officer, Troy has been instrumental in implementing Navistar's Drive to Deliver plan focused on clear accountability and functional excellence; driving the company's transition to its clean engine strategy; and taking aggressive actions to improve Navistar's cost structure.

"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 added. "In my new role, I look forward to working with Troy and supporting him and his team in this regard."