Paccar directors have agreed to add two new directors to the company’s board to help provide finance oversight of the company.
The newest members will be Pierre Breber, a longtime Chevron executive who retired as CFO this year, and Brice Hill, an Intel veteran who is currently CFO of Applied Materials, the company said in a news release last week.
“Mr. Breber’s finance and international operations experience in the energy industry, and Mr. Hill’s years as a senior finance and operations executive in the technology industry, will benefit PACCAR in its global growth,” the board’s executive chairman, Mark Pigott, said in the release.
The additions later this year will grow the membership of the OEM’s board to 14 directors from a dozen.
The board also elected Luiz Pretti to take over current Director Franklin Feder’s slot after he retires Aug. 30, according to a securities filing.
Paccar’s board have to hold certain stock ownership stakes in the company, and directors also must serve the long-term interests of the OEM’s stockholders.
Breber and Hill will start in their new roles July 1, both on the board’s audit committee. Pretti, whose position is effective Sept. 1, will be on the compensation committee.
