Navistar International Corporation has appointed Persio Lisboa as president and CEO. Troy Clarke, who has held the roles of Navistar president, CEO, and member of the board of directors since April 2013, as well as chairman of the board of directors since February 2017, will continue to serve the company in the newly created position of executive chairman.

“I have enjoyed the opportunity to lead Navistar for the last seven years, but it’s now my intention to move toward retirement,” said Clarke. “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.”

As executive chairman, Clarke will assist in the leadership transition and manage the discussions with Traton, including its current proposal to acquire Navistar.

Lisboa joined Navistar in 1988 and has moved through the company’s ranks, serving as executive vice president and chief operating officer since March 2017. Prior to that, he served in several positions of increasing responsibility in the U.S. and South America, including president of operations and chief procurement officer.

“I am honored and humbled to lead this great organization that I’ve been a part of for more than 30 years,” stated Lisboa. “We have strong momentum with our new product programs, including those under development with Traton. The execution of our Lean Manufacturing 4.0 vision is on track, and we'll continue to introduce new, innovative business solutions to our customers, from connectivity to advanced technologies.”