CHICAGO, Feb. 23 -- Navistar International Corporation (NYSE: NAV) announced today that Y. Marc Belton, president of a General Mills subsidiary focusing on new growth opportunities, has been named to its board of directors, effective immediately. Belton's selection increases the number of Navistar board members to 11. He will be up for election at the annual meeting of shareholders in 2000. A veteran marketing professional, Belton has been with General Mills since 1983 and has served as president of New Ventures, General Mills, Inc. since 1997.
"We are delighted that Marc Belton is bringing his marketing expertise to our board of directors," said John Horne, Navistar chairman, president and chief executive officer. "His marketing expertise combined with his focus in the area of new ventures will provide the board with new insights as we continue to improve our overall competitiveness."
Belton has a bachelor's degree in economics and environmental studies from Dartmouth College and an MBA in marketing and finance from the University of Pennsylvania's Wharton School of Business.
Active in Minneapolis community affairs, Belton is a member of the Executive Leadership Council and the Whitney M. Young Endowed Chair, Wharton School. He also serves as treasurer and a member of the board of directors of Urban Ventures and the New Union in Minneapolis.
Navistar International Corporation, with world headquarters in Chicago, and 1998 annual revenues of $7.9 billion, a leading North American producer of heavy and medium trucks and school buses. The company is also a worldwide leader in the manufacture of 160 to 300 horsepower mid-range diesels for the International® brand as well as a private label designer and manufacturer of diesel engines for the full size pickup truck and van markets and selected industrial and off-highway markets worldwide.