Navistar Names Campbell New Chairman

August 28, 2012

Navistar's board of directors has appointed Lewis B. Campbell, former chairman, president, and CEO of Textron, to executive chairman of the board of directors and interim CEO of Navistar.

The company also announced that it has promoted Troy A. Clarke, currently president of Truck and Engine operations at Navistar, to the position of president and COO of Navistar.

"Lewis Campbell is a high-caliber executive who brings to Navistar deep and broad strategic, technical and operational skills and a proven track record of leadership with global industrial companies–including twenty-four years of experience in product design, engineering and manufacturing in General Motors' automotive, trucking and component businesses, and seventeen years in senior leadership positions at Textron including more than 10 years as chairman, president and CEO," said Michael N. Hammes, Navistar's independent lead director.

"We are very pleased to have him join the team. We are also pleased to promote Troy Clarke to president and COO in recognition of the significant contributions he has made in challenging assignments since joining the company in early 2010. Our board and management are aligned around a clear path forward, and we are confident that under the leadership of Lewis and Troy, Navistar will make continuing progress in executing its near-term strategic priorities, driving growth and creating shareholder value."

Campbell added a statement saying that, at the appropriate time, the company will conduct a search for a long-term CEO that will include internal and external candidates.

Campbell, 66, served as chairman of Textron from 1999 to 2010, CEO from 1998 to 2009, and president for most of the period from 1994 to 2009. He initially joined Textron as COO in 1992. Prior to joining Textron, Campbell spent 24 years at General Motors Co., where he served in a variety of roles.

Prior to his appointment as president of Truck and Engine operations at Navistar, Clarke, 57, served as president of the company's Asia Pacific operations. Clarke joined Navistar in January 2010. Previously, Clarke spent more than 35 years with General Motors Co. where he also served in a variety of roles.