WARRENVILLE, Ill. (June 19, 2008) With its strategic focus on global growth, Navistar International Corporation (Other OTC: NAVZ) has established the role of chief risk officer to proactively manage risk and strengthen internal controls. Bill Caton, formerly executive vice president and chief financial officer, has been named to this executive role. Terry Endsley, formerly senior vice president and treasurer, succeeds Caton as executive vice president and chief financial officer. Endsley also assumes Caton’s seat on Navistar’s Board of Directors.
“The leadership of both the CRO and CFO will be critical to our company’s success in executing our long-term plans for continued revenue growth and strong profitability,” said Daniel C. Ustian, Navistar chairman, president and chief executive officer. “We are proud to have two respected leaders in these key roles and we’re confident that Bill and Terry are the right people to help us ensure our continued success.”
In addition to his financial leadership role at Navistar, Caton has an extensive operational background, including experience in the acquisition and divestiture of companies. For the past two years, Caton oversaw Navistar’s financial restatement and reporting effort. The company will become a fully current filer this month when it files 2008 first and second quarter financials.
“Bill has done an incredible job leading the effort to restore our financial reporting status,” said Ustian. “He will excel in bringing a comprehensive approach to risk management as we continue to leverage our strengths and expand in global markets and new business opportunities.”
Endsley joined Navistar in 1977, and has served in various roles within the company’s accounting and finance organization. “Terry has developed and executed strategies to maintain liquidity, while expertly managing our banking relationships, and has been a vital part of the team that has built and strengthened our relations with our investor base,” said Ustian. “As we grow our business, we will look to Terry to ensure that we have robust financial plans in place and that the accounting and finance team is prepared to conduct business on a global basis.”
Succeeding Endsley as treasurer is Jim Moran, current vice president and assistant treasurer. Moran joined the company in 2005 from RR Donnelley, where he served as treasurer.
Navistar International Corporation (Other OTC: NAVZ) is a holding company whose wholly owned subsidiaries produce International® brand commercial and military trucks, MaxxForce™ brand diesel engines, IC brand school and commercial buses, and Workhorse brand chassis for motor homes and step vans. It also is a private-label designer and manufacturer of diesel engines for the pickup truck, van and SUV markets. The company also provides truck and diesel engine parts and service. Another affiliate offers financing services. Additional information is available at www.navistar.com/newsroom.
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