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Navistar International announced that Persio Lisboa will replace Troy Clarke as president and CEO, effective July 1.
Lisboa has been with the company since 1998, and has served as executive vice president and COO since 2017. With the change, which the company announced June 26, Clarke will move into the newly created role of executive chairman.
“Now is an ideal time for Persio to become Navistar’s next chief executive officer,” said Clarke. “I have enjoyed the opportunity to lead Navistar for the last seven years, but it’s now my intention to move toward retirement. Persio is a strong leader with a proven record of driving results. He understands our industry, knows our business segments and will position the company to capitalize on the opportunities ahead.”
Lisboa has served in a variety of capacities for Navistar’s operations in the United States and South America, including president of operations and chief procurement officer.
“I am honored and humbled to lead this great organization that I’ve been a part of for more than 30 years,” Lisboa said. “On behalf of our employees, dealers, customers and shareholders, I want to thank Troy for leading Navistar through a difficult period, establishing our global alliance with Traton and returning our company to growth and profitability.”
In Clarke’s new role, he will work on the leadership transition and continue managing discussions with Traton on its Jan. 30 proposal to acquire Navistar at an offer of $35 per share.
“Persio’s performance history is exactly what’s required by Navistar as we transition into our next chapter, one I’m confident will be even more transformational and exciting than our last,” Clarke said.
Lisboa added, “I look forward to taking Navistar into this next phase of our strategy — positioning our brands, International Truck and IC Bus, as industry leaders.”
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