Navistar International Corporation has announced the results of its 2017 shareholder meeting that was held last week.
The company says its board of directors has elected President and CEO Troy A. Clarke as Navistar’s newest chairman, replacing James H. Keyes, whose retirement was previously announced, and became effective as of the meeting. Keyes had served as non-executive chairman of Navistar’s board since April 2013. In addition, board member General (Retired) Stanley A. McChrystal was elected as the independent lead director.
“It has been a pleasure to serve on the board for the last four years, and I am honored to have been elected chairman,” says Clarke. “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.”
During the meeting stockholders also elected nine incumbent directors to the board of directors; ratified the selection of KPMG as the company’s independent registered public accounting firm; approved, on an advisory basis, the compensation of key company executives; and approved a preferred one year frequency of the advisory vote on executive compensation.
Navistar says the director incumbents elected for a one-year term are:
Additionally, Navistar has one director not elected by shareholders, but appointed by the United Auto Workers (UAW) union under an agreement dating back to the early 1990s. The current appointed director is Dennis D. Williams, president of the UAW.
