Navistar International Corp. announced that Walter G. Borst will join the company as executive vice president and CFO. He succeeds Andrew J. Cederoth, whose departure was announced earlier this week.

Borst, 51, comes to Navistar from General Motors Company, where he most recently was the chairman, CEO and president of GM Asset Management, responsible for managing approximately $85 billion in assets, predominantly for the GM benefits plans. Prior to that, he spent seven years as GM's treasurer and more than two years as chief financial officer of Adam Opel AG.

Borst officially starts with the company on Aug. 1.