Paccar has appointed Harrie Schippers as president and chief financial officer, effective 1 January next year.

Schippers has worked at Paccar for 31 years and is currently executive vice president and CFO at the company's corporate offices in Bellevue, Washington. He was president of DAF Trucks in Eindhoven, the Netherlands, from 2010 to 2016.

"Harrie is an outstanding leader and has contributed towards Paccar's record of profitable growth including the recent introduction of the new DAF CF and XF trucks, which earned International Truck of the Year 2018 honours," said Paccar CEO, Ron Armstrong.

"He also has responsibility for Paccar Parts which has achieved record quarterly sales and pre-tax profits this year."

Paccar recently reported third-quarter net sales and financial services revenues of US$5.06bn, compared to US$4.25bn last year.

Paccar earned net income of US$402.7m ($1.14 per diluted share) in the third quarter of this year compared to net income of US$346.2m (US$.98 per diluted share) in the same period last year.