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Originally published December 16, 2013 at 1:56 PM | Page modified December 16, 2013 at 2:42 PM

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Paccar names insider as new CEO

Truck maker Paccar Inc. on Monday appointed company president Ronald Armstrong as its new CEO.


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BELLEVUE, Wash. —

Truck maker Paccar Inc. on Monday appointed company president Ronald Armstrong as its new CEO.

Armstrong, 58, has worked for the company for 20 years. He will succeed Mark Pigott in April. Pigott, who has served as the company's chief executive officer and chairman since 1997, is becoming executive chairman of the board.

Paccar said Armstrong will also join the board of directors. The company also said that Robert Christensen, currently executive vice president and chief financial officer, will become president and chief financial officer of the company in April.

The Bellevue, Wash.-based company makes Kenworth, Peterbilt and DAF trucks.

Shares jumped $1.15, or 2 percent, to $57.31 in trading Monday. Its shares are up about 30 percent for the year.



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