Ronald E. Armstrong was the CEO of PACCAR Inc from April 2014 until June 2019. He started at PACCAR in 1993 as an assistant division controller and climbed the ranks to become President in 2011 and then CEO. His journey...
Ronald E. Armstrong was the CEO of PACCAR Inc from April 2014 until June 2019. He started at PACCAR in 1993 as an assistant division controller and climbed the ranks to become President in 2011 and then CEO. His journey shows a strong focus on performance; in 2018, he earned $4,553,075, largely due to a bonus for exceeding profit goals. Armstrong's leadership style was closely tied to the company's success, as his pay depended on meeting performance targets. Even his retirement year, 2019, reflected this, as he earned a base salary of $752,885 but no bonuses because he retired mid-year. Armstrong also made smart moves with stock options that aligned with PACCAR's growth, which solidified his financial success. He played a key role in the company’s strategic direction and continued to influence PACCAR even after stepping down as CEO. Interestingly, he has a background in accounting, having worked for Ernst & Young for 16 years before joining PACCAR. Overall, Armstrong's tenure highlights a commitment to driving results and aligning executive pay with company performance.