Navistar Names New Chairman, Interim CEO After Ustian Announces Retirement
August 27, 2012
Navistar International Corp. announced today it has named Lewis B. Campbell, former chairman, president, and CEO of Textron Inc., as executive chairman of Navistar's board of directors and interim Chief Executive Officer. Dan Ustian is retiring as chairman, president, and CEO effective immediately and is leaving the board of directors.
The company also has promoted Troy Clarke to president and chief operating officer. In June, Clarke, who had been president of Navistar Asia Pacific, assumed responsibility for all Navistar's operations in the newly created role of president, truck and engine.
Ustian has come under criticism for his role in the company's strategy for meeting 2010 EPA emissions using only an in-cylinder solution and eschewing the selective catalytic reduction chosen by all other engine makers to meet the regulations.
"Lewis Campbell is a high-caliber executive who brings to Navistar deep and broad strategic, technical and operational skills and a proven track record of leadership with global industrial companies - including 24 years of experience in product design, engineering and manufacturing in General Motors' automotive, trucking and component businesses and seventeen years in senior leadership positions at Textron including more than 10 years as Chairman, President and CEO," said Michael Hammes, Navistar's independent lead director.
Hammes added, "We appreciate Dan's many contributions and accomplishments during his 37-year career at Navistar. Under his leadership, Navistar's revenue grew from approximately $7.7 billion to approximately $14 billion as the company significantly expanded its global reach and diversified its product portfolio, including the addition of Navistar's military business."
"I am honored to join the Board of Navistar in the new role of Executive Chairman and to serve as CEO," Campbell said. "At the appropriate time, we will conduct a search for a long-term CEO, which will include internal and external candidates."
Campbell, 66, served as chairman of Textron, a $12 billion publicly traded industrial company, from 1999 to 2010, CEO from 1998 to 2009 and president for most of the period from 1994 to 2009.
Prior to joining Textron, Campbell spent 24 years at General Motors Co., where he served in a variety of roles including vice president and general manager, Flint Automotive Division for Buick/Oldsmobile/Cadillac, as well as Vice President and general manager, GMC Truck. Campbell holds a B.S. in mechanical engineering from Duke University.
Prior to his appointment as president of Truck and Engine operations at Navistar, Clarke, 57, served as president of the company's Asia Pacific operations. Clarke joined Navistar in January 2010 as senior vice president, Strategic Initiatives. Previously, he spent more than 35 years with General Motors Co. where he served in a variety of roles, including president of General Motors North America. He has a B.S. in mechanical engineering from General Motors Institute, as well as an M.B.A. from the University of Michigan.Related Story: Navistar Details Product Changes, Thinking Behind Emissions Strategy Change