Navistar International Corp. said Monday that Chairman and CEO Daniel Ustian is retiring effective immediately, and that it has named an interim replacement.
The truck and engine maker’s board appointed Lewis Campbell executive chairman and interim CEO. Campbell is the former chairman and CEO of Textron Inc.
Navistar also promoted Troy Clarke, president of its truck and engine operations, to the position of president and chief operating officer.
Lewis Campbell has “a proven track record of leadership with global industrial companies, including 24 years of experience in product design, engineering and manufacturing in General Motors’ automotive, trucking and component businesses,” said Michael Hammes, Navistar’s independent lead director.
Ustian was with Navistar for 37 years, becoming CEO in late 2002 and chairman in late 2003. Under his leadership its revenue grew from $7.7 billion to about $14 billion as the company “significantly expanded its global reach and diversified its product portfolio,” Hammes said in a statement.