Navistar Names COO as Management Revamping Continues
Stock Chart for Navistar International Corp (NAV)
Allen, 55, today was named executive vice president and chief operating officer, effective immediately, Navistar said in a statement.
The company last month namedTroy Clarke, 57, as chief executive officer, effective yesterday. Clarke, a former General Motors Co. (GM) executive, joined the Lisle, Illinois-based company in 2010. James Keyes, a board member since 2002, became non- executive chairman this week.
Navistar is trying to end losses. The truckmaker ousted Dan Ustian as CEO in August after an inquiry from regulators about its accounting and disclosures. Lewis Campbell, a former CEO of Textron Inc. (TXT), took the helm as interim head of the company before yielding to Clarke. Navistar’s net loss for the November- to-January fiscal first quarter narrowed to $123 million from $153 million a year earlier, the company said last month.
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