Along with Baney (pictured at right) being named president of Paccar, Rich will on January 1 be promoted to executive vice president. Rich joined Paccar nearly five years ago from Ford Motor Company, where he most recently led the company’s work on autonomous-driving technologies.
A third 2026 management change at Paccar will have Bloch, who oversees Kenworth in addition to purchasing and quality, take on responsibilities for Dynacraft, the company’s subsidiary that supplies manufactured components and assemblies to all three of the company’s brands, as well as more than 1,000 Peterbilt and Kenworth dealerships. The division runs plants in Louisville, Kentucky, and McKinney, Texas.
The pending C-suite changes at Paccar come after a rough year for the company and its OEM peers, as many fleets have pulled back from buying new equipment. This fall, executives moved to cut 300 jobs at a Quebec plant that had seen two other rounds of layoffs in the previous 10 months. CEO Preston Feight has voiced mild optimism about growing policy and regulatory certainty leading to a 2026 lift in sales, but Eva Scherer, CFO of Freightliner parent Daimler Truck North America, said last month that a sales increase is more likely to be a second-half story.
Shares of Paccar (Ticker: PCAR) were up more than 1% to nearly $113 in late-morning trading on December 15. Over the past six months, they have gained more than 20%, growing the company’s market capitalization to more than $59 billion.
