Navistar’s Clarke Sees Gain in Truck Market Share: Chicago Mover
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Navistar International Corp. rose the most in more than four years after naming a new chief executive officer who said the money-losing truckmaker may return to 2011 market share as soon as the fourth quarter.
Navistar soared 28 percent to $31.89 at the close in New York, the biggest daily gain since November 2008. On April 15 President Troy Clarke will become CEO, interim boss Lewis Campbell will leave and James Keyes will become chairman, the company said today. Navistar said first-quarter cash use was less than forecast.