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New Navistar Chairman elected

Troy Clarke has been elected Chairman of US truck OEM, Navistar.

Clarke had already been serving as President and CEO of the company, and now replaces James Keyes in the Chairman role, whose retirement was previously announced.

"It has been a pleasure to serve on the board for the last four years, and I am honoured to have been elected chairman," Clarke said at the company's annual shareholder meeting last week.

"This is an exciting time for Navistar, as we pursue our growth strategies highlighted by significant new product launches and our pending strategic alliance with Volkswagen Truck & Bus.

“I look forward to continuing to work with our very dynamic board, which is focused on the future and supportive of management's efforts to create a great truck company."

At the company's annual shareholder meeting, stockholders also ratified the selection of KPMG as the company's independent registered public accounting firm.

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