Navistar CFO Leaving
Navistar has seen several changes in its executive suite this year, and the company's just announced another. It said in a press release that, at the end of the month, Executive Vice President and CFO Andrew "A.J." Cederoth will step down "as part of a planned transition to a new CFO." His responsibilities will be handled on an interim basis by Senior Vice President and Treasurer James Moran. The company said it is finalizing the hire of a new CFO from outside its ranks.
The move comes shortly after Navistar released disappointing Q2 results that saw it post a net loss of $374 million on revenue of $2.53 billion. Both numbers fell well short of analyst expectations.
Previous to that, the company promoted former Chief Operating Officer Troy Clarke to be new CEO in March and tapped Jack Allen to replace him as COO the following month.
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