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August 15, 2018 6:30 PM, EDT

Navistar Appoints VW Truck & Bus Executive Christian Schulz to Board

Truck maker Navistar International Corp. appointed Christian Schulz to its board of directors, effective immediately.

Navistar board member Christian Schulz

Schulz

Schulz currently is chief financial officer of Volkswagen Truck & Bus, soon transforming into Traton AG, and previously was in charge of corporate development, strategy, and mergers and acquisitions at the company since January 2017.

Schulz succeeds Matthias Gruendler, who previously resigned from the Navistar board after serving more than a year as a director.

Schulz has been appointed to the board’s finance committee.

VW Truck & Bus owns about 17% of Lisle, Ill.-based Navistar Inc. In June, it announced it will rename itself Traton Group to further increase its independence from parent company Volkswagen AG and move toward “capital market readiness” in preparation for a potential IPO by the unit.