This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

PACCAR Names Ronald E. Armstrong As Chief Executive Officer Mark Pigott Remains Executive Chairman Of The Board

Stocks in this article: PCAR

PACCAR Inc (NASDAQ:PCAR) announced today that its Board of Directors has elected Ronald E. Armstrong as chief executive officer (CEO) and Mark C. Pigott as executive chairman of the Board of Directors, effective April 27, 2014. Mr. Armstrong was also elected a member of the Board of Directors, effective on the same date. Mr. Armstrong is currently president of PACCAR and succeeds Mr. Pigott who has served as the company’s chief executive officer and chairman since 1997. In his role as executive chairman, Mr. Pigott will remain an employee of the Company and will help guide its future strategies and direction. The Board of Directors also elected Robert J. Christensen as president and chief financial officer (CFO), effective April 27, 2014. Mr. Christensen has worked at PACCAR for 30 years and is currently executive vice president and chief financial officer.

“Ron and Bob are outstanding leaders, who have contributed towards PACCAR’s excellent record of profitable growth through the recent introduction of the most comprehensive range of new trucks and engines in PACCAR’s history,” shared Mark Pigott. “I congratulate Ron on his promotion to chief executive officer and welcome him to the Board.”

A long-time industry leader, Ron Armstrong, age 58, has achieved an excellent record of delivering growth in revenue and profits in addition to enhancing the company’s outstanding customer satisfaction and market share. Mr. Armstrong has been with PACCAR for twenty years. Prior to PACCAR, he was a senior manager with Ernst & Young where he worked for sixteen years. Ron earned a BS degree in Accounting from the University of Central Oklahoma and is a CPA.

“This year, PACCAR is celebrating its 108th year and the company is the quality and innovation leader in its industry. PACCAR sells its Kenworth, Peterbilt, and DAF trucks in over 100 countries,” said Ron Armstrong. “PACCAR is a technology company that has delivered an outstanding record of leadership and financial performance in commercial vehicles, as well as in the company’s aftermarket parts and financial services businesses. I am grateful to Mark and the board for the privilege to lead PACCAR and our 22,000 employees in our goal of delivering profitable growth and excellent shareholder returns. On behalf of all PACCAR employees, I would like to thank Mark for his 17 years of outstanding leadership and strategic vision as PACCAR’s chief executive officer.”

1 of 2

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,053.71 +23.50 0.13%
S&P 500 2,088.77 +6.89 0.33%
NASDAQ 4,806.8590 +33.3870 0.70%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs