Meritor appoints Jay Craig as COO Meritor announced the appointment of Jay Craig as president and COO, effective June 9. Craig will continue to report directly to Ike Evans, chairman and CEO. Previously, Craig was senior vice president and president of Meritor's Commercial Truck & Industrial segment. He served as senior vice president and CFO at Meritor from 2009 to 2013 and has held various positions at the company since 2006.
Meritor downgraded to Equal Weight from Overweight at Barclays Barclays downgraded Meritor to Equal Weight saying currency headwinds and soft Brazil truck trends put consensus estimates at risk. The firm cut its price target for shares to $15 from $17.