PACCAR Names Ronald Armstrong CEO; Pigott Remains Executive Chairman

(RTTNews) - PACCAR Inc (PCAR) said Monday that its Board of Directors has elected Ronald Armstrong as chief executive officer and Mark Pigott as executive chairman of the board, effective April 27, 2014.

Armstrong was also elected a member of the board, effective on the same date. Armstrong is currently president of PACCAR and succeeds Pigott who has served as the company's chief executive officer and chairman since 1997. In his role as executive chairman, Pigott will remain an employee of the company and will help guide its future strategies and direction.

The company also said its board has elected Robert Christensen as president and chief financial officer, effective April 27, 2014. Christensen has worked at PACCAR for 30 years and is currently executive vice president and chief financial officer.

Ron Armstrong, 58, has been with PACCAR for twenty years. Prior to PACCAR, he was a senior manager with Ernst & Young where he worked for sixteen years.