(Photo caption: Jay Craig (left) and Chris Villavarayan)
Commercial vehicle supplier Meritor Inc. on Nov. 5 announced that CEO and President Jay Craig would transition to the role of executive chairman of the board, effective Feb. 28, 2021. Chris Villavarayan, executive vice president and COO, will succeed Craig as CEO and president and will join the board of directors.
Craig has been Meritor CEO since mid-2015.
Villavarayan has been with Meritor since 2000. He currently has global operating responsibility for both of Meritor’s business segments – global truck and aftermarket, as well as industrial and trailer.
“With our M2022 plan well underway, now an ideal time to begin a leadership transition,” Craig said in a news release.
Meritor is slated to release the company's fourth-quarter and full-year results for fiscal year 2020 Nov. 12.
