Navistar CFO Andrew Cederoth to resign


Navistar International Corp on Monday said Chief Financial Officer Andrew Cederoth will resign by the end of June, the latest management change at the truck and engine maker that is looking to recover from a disastrous engine redesign.

Navistar said Treasurer James Moran will take over until the company appoints a permanent replacement for Cederoth.

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Cederoth was the CFO of Navistar since September 2009 and the company said his resignation was part of a planned transition to a new CFO.

Navistar ousted its long-term chief executive Daniel Ustian in August after a new diesel engine technology failed to win regulatory approval, forcing the company to temporarily source engines from rival Cummins Inc .

The company named former Chief Operating Officer Troy Clarke as chief executive in March, after a brief stint by turnaround specialist Lewis Campbell, a former Textron Inc chief.

Navistar shares fell 2.4 percent in extended trading after closing at $26.62 on the New York Stock Exchange on Monday.

(Reporting by Mridhula Raghavan in Bangalore; Editing by Joyjeet Das)