8-KLeadership ChangesExhibits & Filings

PACCAR INC 8-K Report, Executive Changes (Dec 14, 2017)

Filed December 14, 2017For Securities:PCAR

Summary

PACCAR Inc (PCAR) has filed an 8-K report on December 14, 2017, announcing a significant executive leadership change. Effective January 1, 2018, Harrie Schippers will assume the roles of President and Chief Financial Officer. Mr. Schippers brings extensive experience to this dual role, having most recently served as Executive Vice President and Chief Financial Officer since February 2017 and previously as President of DAF Trucks N.V. for six years. This appointment signals continuity and confidence in internal leadership for the company's financial and operational strategy.

Key Highlights

  • 1Harrie Schippers appointed President and Chief Financial Officer, effective January 1, 2018.
  • 2Mr. Schippers has a deep understanding of PACCAR's operations, having held executive roles including EVP and CFO since February 2017.
  • 3Previous experience as President of DAF Trucks N.V. (2010-2016) provides valuable international and divisional leadership insights.
  • 4Annual salary for the new President and CFO role set at $800,000.
  • 5Eligibility for annual variable compensation is included in Mr. Schippers' new role.
  • 6The appointment was announced via a press release filed as an exhibit to the 8-K.

Frequently Asked Questions

Harrie Schippers has been elected as the new President and Chief Financial Officer of PACCAR, effective January 1, 2018.

Mr. Schippers has been with PACCAR in various leadership capacities. He most recently served as Executive Vice President and Chief Financial Officer since February 1, 2017, and prior to that, he was Senior Vice President. He also has significant experience as President of DAF Trucks N.V. from 2010 to March 31, 2016.

Mr. Schippers will receive an annual salary of $800,000 and will be eligible for annual variable compensation.

This appointment suggests internal succession planning and confidence in existing leadership. Mr. Schippers' extensive experience within PACCAR and its subsidiaries, particularly his recent CFO role and prior leadership of DAF Trucks, indicates a smooth transition and continued strategic direction for the company.