Navistar International Corp. (NYSE: NAV) CEO Troy Clarke will lead the company until at least July 1 as the coronavirus pandemic delays action on a $2.9 billion buyout offer by Volkswagen AG’s trucking subsidiary TRATON Group.
Clarke’s contract was extended on April 11 beyond its scheduled expiration on April 22, according to a Navistar filing with the U.S. Securities and Exchange Commission (SEC). It is the third time his contract has been pushed out following extensions in 2018 and 2019.
The...
https://www.freightwaves.com/news/navistar-extends-ceos-contract-as-buyout-by-traton-on-hold