Navistar CFO Departing After Less Than Four Years
June 24, 2013
A.J. Cederoth has served as Navistar's CFO since September 2009.
Navistar International announced that Andrew J. (A.J.) Cederoth, the company's executive vice president and chief financial officer, will be leaving at the end of the month as part of a planned transition to a new CFO.
Cederoth, 48, has served as the company's CFO since September 2009.
James M. Moran, Navistar senior vice president and treasurer, will oversee the company's financial operations and functions on an interim basis, while the company finalizes its appointment of a new CFO from outside the company.
"I want to thank A.J. for his many contributions during his 23 years at Navistar, particularly the leadership he displayed this past year in helping to create, implement and drive significant progress in our turnaround plan," said Troy A. Clarke, Navistar's president and CEO. "I also appreciate the support A.J. provided during this CFO transition process. He has had a distinguished career at Navistar and we wish him well in his future endeavors."
In April, Cederoth, along with Dan Ustian, former chairman, were named in a lawsuit filed in federal court over misleading shareholders about being able to meet 2010 federal diesel engine emissions standards, which it failed to do.
Last year the company abandoned its strategy of being the only heavy truck engine maker using only exhaust gas recirculation technology to meet EPA 2010, joining all other truck engine makers using selective catalytic reduction technology.
Cederoth was named Navistar CFO in September 2009, following the death in April of that year of Terry M. Endsley.
Cederoth joined Navistar in 1990 and has held various financial positions including strategic planning manager of the engine group and manufacturing controller of the Melrose Park Engine Plant before joining the corporate treasury team as director of corporate finance in 1999.