Meritor names Craig VP, Nowlan CFO

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Meritor announced Wednesday the appointment of Jay Craig as senior vice president and president of the company’s Commercial Truck & Industrial segment.

Craig had most recently served as the company’s senior vice president and chief financial officer (CFO) with additional responsibility for Treasury, Tax, Purchasing, Information Systems, Investor Relations and Communications.

“Jay’s experience and success in leading each of these disciplines, as well as his operations background previously at GMAC and at Meritor, where he successfully led the turnaround of the Body Systems business prior to its sale, makes him the perfect candidate for this position,” Chairman, CEO and President Chip McClure says.

Kevin Nowlan, Meritor’s vice president and controller since 2010, will serve as CFO. Prior to that, Nowlan held roles including Treasurer and vice president of Shared Services at the company.

McClure added, “We’ve been diligent in building the bench strength of our management team and are confident these moves will continue to enhance the company’s performance.”

Tim Bowes, who formerly held the position of vice president and president of the company’s Commercial Truck & Industrial segment, has elected to leave the company.

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