Summary
PACCAR Inc (PCAR) announced a significant leadership transition through an 8-K filing on December 11, 2016, with the earliest event reported on December 7, 2016. The report details the upcoming retirement of Robert J. Christensen, President and Chief Financial Officer, after an extensive 33-year tenure with the company. This transition will be effective February 1, 2017. To fill the CFO vacancy, Harrie C. A. M. Schippers will be promoted to Executive Vice President and Chief Financial Officer, also effective February 1, 2017. The filing also notes the appointment of Charles R. Williamson as lead director for a three-year term starting January 14, 2017. Additionally, Darrin C. Siver and A. Lily Ley have been promoted to Senior Vice President and Vice President and Chief Information Officer, respectively, effective January 1, 2017. These changes reflect a planned succession and organizational adjustments within PACCAR's senior management.
Key Highlights
- 1Robert J. Christensen, President and CFO, will retire on February 1, 2017, after 33 years of service.
- 2Harrie C. A. M. Schippers will succeed Christensen as Executive Vice President and Chief Financial Officer, effective February 1, 2017.
- 3Charles R. Williamson has been appointed lead director for a three-year term beginning January 14, 2017.
- 4Darrin C. Siver promoted to Senior Vice President, effective January 1, 2017.
- 5A. Lily Ley promoted to Vice President and Chief Information Officer, effective January 1, 2017.
- 6These announcements indicate planned leadership succession and organizational changes at PACCAR.