Veteran financial leader Walter G. Borst has joined Navistar International Corp. as executive vice president and chief financial officer, succeeding Andrew J. Cederoth, whose departure was announced earlier this week.
Borst comes to Navistar from General Motors, where he most recently was the chairman, chief executive officer and president of GM Asset Management, responsible for managing approximately $85 billion in assets — predominantly for the GM benefits plans.
Prior to that, he spent seven years as GM’s treasurer and more than two years as chief financial officer of GM’s Opel business in Ruesselsheim, Germany.
He was with GM for 33 years. Borst holds a bachelor’s degree in industrial administration from General Motors Institute (now Kettering University) and a master’s degree in business administration from Stanford University.
Borst, who officially starts with the company on Aug. 1, will report to Troy A. Clarke, Navistar’s president and CEO.