Printer Friendly


 CHICAGO, Aug. 5 /PRNewswire/ -- Navistar International Corp. (NYSE: NAV) today announced that Bill Casstevens, Richard Celeste and William Craig have been elected to its board of directors.
 s a part of a settlement agreement regarding retiree health care and life insurance benefits that was approved earlier this year by the U.S. District Court and Navistar's shareowners, three additional seats on Navistar's board of directors were created, increasing the size of Navistar's board to 15 members. According to the settlement agreement, the UAW has the right to elect one director until Navistar has fully funded its $1.0 billion retiree benefit liability, and the supplemental retiree trust has the right to elect two directors to the board as long as it holds at least 20 percent of the company's common stock and one director as long as the trust holds at least 10 percent of the company's common stock. The UAW elected Casstevens to the board, for a term extending from Aug. 1, 1993, through July 31, 1994. The supplemental retiree trust elected Celeste and Craig to the board, for terms extending from Aug. 15, 1993 through July 31, 1994.
 Casstevens has served as secretary-treasurer of the International Union, United Automobile, Aerospace and Agricultural Implement Workers of America (UAW) since 1988. In this position, Casstevens directs several collective bargaining departments in the agricultural implement and heavy truck industries for the UAW, which include such companies as Caterpillar, Deere & Co., Freightliner and Mack Trucks. Previously, he served as vice-president and as director of UAW Region 2. Prior to joining the UAW Region 2 staff in 1962, Casstevens worked in General Motor Company's Fisher Body Division, and held various local union posts.
 Richard Celeste is the managing general partner of Celeste & Sabety Ltd., a Columbus, Ohio-based consulting firm that assists companies in addressing complex public policy issues. Celeste served as governor of the state of Ohio from 1983 to 1991, and directed the U.S. Peace Corps from 1979 to 1981. He also served in the U.S. Foreign Service as executive assistant to Ambassador Chester Bowles in India. Currently, he is a member of the board of directors of Youth Service America, AFS Intercultural Programs, Carnegie Corp. of New York, HEALTHSOUTH Rehabilitation Corp. and Habitat for Humanity International. He is a member of the advisory board of BP America Inc. and Oak Ridge National Laboratory, and a member of the board of advisors of The Leadership Institute at the University of Southern California.
 William Craig currently serves as a consultant in the truck industry. From 1989 through 1992, Craig served as executive vice president of Mack Trucks, responsible for legal affairs, labor relations, corporate affairs and public relations, real estate and the parts division. Previously, he served as vice president of human resources and as a plant manager for Volkswagen of America, and worked in the Chevrolet Division of General Motors.
 "We're pleased to welcome these new members to our board, and we look forward to benefiting from their experience and perspective," said James C. Cotting, Navistar's chairman and chief executive officer.
 Navistar is the North American market share leader in medium and heavy trucks and school bus chassis, and is a worldwide leader in the production of mid-range diesel engines.
 -0- 8/5/93
 /CONTACT: Deborah Spak of Navistar, 312-836-3232/

CO: Navistar International Corp. ST: Illinois IN: AUT SU: PER

CK -- NY054 -- 9853 08/05/93 11:44 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Aug 5, 1993

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters