June 10, 2014 10:45 AM, EDT

Meritor Promotes Jay Craig to President, Chief Operating Officer

Meritor Inc

Meritor Inc. said it has promoted Jay Craig to president and chief operating officer from senior vice president and chief financial officer, effective June 9.

The Troy, Michigan, component maker said Craig will continue to report to chairman and CEO Ike Evans.

“In Jay’s new role, he’ll have responsibility for both of our business segments — commercial truck and industrial, and aftermarket and trailer — while helping lead the company toward the successful execution of our strategic M2016 initiatives,” Evans said in a statement.

“Jay and I have worked closely together over the past year and share a common vision for the company’s future. His commercial experience, in addition to his extensive financial background, makes him the ideal candidate for this position,” Evans said.

Craig has been with the company since 2008 and served as CFO from 2009 to 2013. Before joining Meritor, he was president of General Motors Acceptance Corp.’s commercial finance division.