Truck maker Navistar International on Wednesday said president and chief executive Daniel Ustian would also become chairman next year, Reuters reported.

Ustian, 53, will succeed John Horne, who has served as chairman since 1996 and is retiring in February, the Warrenville, Illinois, company said in a statement cited by the news agency.

Horne had been CEO from April 1995 until February 2003 when Ustian succeeded him, the report noted.