Jeffrey A. Craig, Meritor's new CEO Photo: Meritor

Jeffrey A. Craig, Meritor's new CEO Photo: Meritor

Meritor named President and Chief Operating Officer Jeffrey "Jay" Craig the company's new CEO, succeeding Ivor "Ike" Evans. Craig was also appointed to the board of directors and will retain his role as president of the company.

Meritor’s former CEO and chairman of the board, Evans, will be moving into the role of Executive Chairman. Evans had been chairman of the board and CEO of Meritor since 2013 and a member of the board of directors since 2005.

Craig has been Meritor’s president and COO since 2014, providing oversight to Meritor’s Commercial Truck and Industrial, and Aftermarket and Trailer business segments. He has been with Meritor since 2006. Before joining Meritor, he served as president and CEO of GMAC’s Commercial Finance organization.

"Jay is a strong leader who possesses a unique combination of commercial expertise and financial acumen with a relentless focus on execution and performance,” said Evans. “Jay is ideally suited to lead Meritor as its next CEO as we continue to drive toward achievement of our M2016 targets and create even more value for Meritor's shareholders."