04.10.2005 12:45:00
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Bill Caton Joins Navistar International Corporation as Executive Vice President of Finance; Scheduled to Become Chief Financial Officer Upon Filing of Navistar's 2005 10K
Caton, 54, most recently served as the vice president and chieffinancial officer of Dover Diversified, Inc., a subsidiary of DoverCorporation (NYSE:DOV), a diversified industrial manufacturingcompany. Caton started at Dover in 1989 and has held numerous CFO,president and executive vice president positions at Doversubsidiaries. He will join Navistar on October, 31, 2005.
"Bill Caton is the ideal choice to lead our financial strategy aswe work to become a $15 billion company with strengthenedprofitability," said Daniel C. Ustian, chairman, president and chiefexecutive officer. "Bill has a deep background in heavy manufacturingat well-respected, diversified industrial companies and he hasconducted significant work in acquisitions, including internationalprojects. And he has considerable line management experience, havingdriven strong growth while effectively managing costs for greaterprofitability. With his outstanding counseling and managementcapabilities, he will enter the company as a key member of ourleadership team."
Caton will succeed Robert C. Lannert as chief financial officerupon filing of the company's 10-K. Lannert will continue with Navistaras vice chairman and will advise Ustian and the board of directors onstrategic programs and planning.
"We're pleased that Bob will continue with Navistar," Ustian said."During his 42-year career, he has provided strong financialleadership. "His steady guidance has enabled us to achieve our mostimportant financial goals, including improved profitability throughoutthe cycle. We are grateful for Bob's continuing counsel andinvolvement."
Caton earned his MBA from the University of Chicago and is agraduate of the University of Wisconsin, Eau Clair. Prior to his timeat Dover, he held financial posts at 3M, Pillsbury and VICORP.
Navistar International Corporation (NYSE: NAV) is the parentcompany of International Truck and Engine Corporation. The companyproduces International(R) brand commercial trucks, mid-range dieselengines and IC brand school buses and is a private label designer andmanufacturer of diesel engines for the pickup truck, van and SUVmarkets. A wholly owned subsidiary offers financing services.Additional information is available at www.nav-international.com.
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