Following Navistar International’s annual shareholder meeting on Feb. 14, the board of directors has elected company president and CEO Troy A. Clarke as its chairman.
Clarke replaces the retired James H. Keyes, who had served as non-executive chairman of Navistar’s board since April 2013. The change was effective immediately. Additionally, board member Gen. Stanley A. McChrystal was elected as the independent lead director.
"It has been a pleasure to serve on the board for the last four years, and I am honored to have been elected chairman," said Clarke. "This is an exciting time for Navistar, as we pursue our growth strategies highlighted by significant new product launches and our pending strategic alliance with Volkswagen Truck & Bus. I look forward to continuing to work with our very dynamic board, which is focused on the future and supportive of management's efforts to create a great truck company."
At the company's annual shareholder meeting, stockholders elected nine incumbent directors to the board of directors. The company also ratified the selection of KPMG as its independent registered public accounting firm; approved, on an advisory basis, the compensation of key company executives, and approved a preferred one-year frequency of the advisory vote on executive compensation.