Navistar sacks CEO after failed engine strategy
by The Canadian Press
Company's Class-8 engine does not meet EPA standards
LISLE, Ill.—Navistar International Corp. has ousted chairman and CEO Daniel Ustian and named an interim replacement.
The heavy truck and engine company said Ustian informed the board that he is immediately retiring from his roles as chairman, president and chief executive, as well as leaving the company’s board. He had been with the company for 37 years.
Lisle, Ill.-based Navistar named Lewis Campbell, the former chairman, president and CEO of Textron Inc., as its executive chairman and interim CEO.
Navistar has struggled this year amid uncertainty about whether its Class 8 engine, which is used in the largest commercial trucks, will get Environmental Protection Agency approval.
The company said in July that it was in talks with the EPA on a plan that will allow it to continue shipping trucks while it makes a transition to a new emission-reducing technology that is expected to be available beginning early next year.
Campbell joined Providence, R.I.-based Textron in 1992 and served as its CEO from 1999 to 2010. Before that, he spent 24 years at General Motors in a variety of roles.
Navistar also promoted Troy Clarke, its current president of truck and engine operations, to president and chief operating officer. Clarke, 57, joined Navistar in 2010 and previously spent 35 years at General Motors.