Navistar Announces Key Leadership Appointments

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Navistar International Corporation has appointed three individuals to key leadership roles. Persio V. Lisboa, president of operations, was named executive VP and COO, effective immediately. Steven K. Covey will retire from his role as senior vice president and general counsel after 36 years; Curt Kramer, currently associate general counsel and corporate secretary, will succeed Covey effective April 1.

In his new role, Lisboa will oversee Navistar’s operations, global and sales functions. Most recently, Lisboa was responsible for procurement, product development and manufacturing, where he helped drive hundreds of millions in total cost savings, while overseeing key strategic investments in new products and services. He also played a major role in negotiating the successful close of Navistar’s strategic alliance with Volkswagen Truck & Bus.

“Persio is an inspiring, performance-driven leader who consistently delivers results and empowers his teams to succeed. I am confident that with nearly 30 years of experience at Navistar, working across all aspects of our business, he will help us build on our positive momentum,” said Troy A. Clarke, chairman, president and CEO. “On behalf of the Board of Directors and the management team, I congratulate Persio on this well-deserved promotion to chief operating officer.”

“I am honored to be taking on the role of chief operating officer and look forward to continuing to strengthen Navistar’s performance and deliver on our strategic priorities,” Lisboa said. “I am committed to working with Troy and the rest of the management team to drive operational excellence and industry-leading uptime as we push to become the industry’s North American champion.”

In Kramer’s new role as senior vice president and general counsel, he will be responsible for leading all legal and corporate governance matters for the company. In his most recent role as corporate secretary, Kramer oversaw all corporate governance and Board administration functions, as well as all legal aspects of Navistar’s securities, finance and merger and acquisition activity.

“Curt has demonstrated his trusted leadership and extensive legal expertise throughout a variety of complex situations and transformative changes at Navistar,” Clarke said. “His keen understanding of the legal environment in which Navistar operates and impressive track record of accomplishments will serve him well in this new role.”

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