Ronald Armstrong is the current CEO of Paccar, which is an American corporation that manufactures commercial vehicles for customers located around the world. However, it should be noted that Paccar also has other products and services, including some that have little to do with its main line of business. Here are 10 things you may or may not have known about Ronald Armstrong:
1. Ronald comes from Old Norse
Ronald comes from the Old Norse Rögnvaldr. In some cases, Ronald comes from the Gaelic Raghnall, but it is worth mentioning that this name also comes from Rögnvaldr. Regardless, Rögnvaldr can be divided into two elements region and valdr, where region means “advice” or “decision” and valdr means “ruler.”
2. Armstrong comes from a Middle English nickname
Perhaps unsurprisingly, Armstrong comes from a Middle English nickname for someone who possessed strong arms. However, it is interesting to note that it was chosen as the anglicization of a pair of Gaelic names, meaning ‘son of a strong man’ and ‘strong O’Lavery’.
3. He studied at the University of Central Oklahoma
In terms of education, Armstrong studied at the University of Central Oklahoma, which is located in Edmond, OK. It is not the largest institution of higher education in the state, it stands out because it was one of the first to be established not only in Oklahoma but also in the rest of the southwestern United States.
4. He studied Accounting
In school, Armstrong studied accounting, which does not have the best reputation but is nevertheless a versatile field with enormous importance in the business world. After all, accounting is what makes it possible for stakeholders to understand what is happening in a business, allowing them to make the right decisions based on the right information. Never mind the other fundamental uses of accounting.
5. It is a CPA
Speaking of which, Armstrong is a CPA, which stands for Certified Public Accountant. The exact nature of such status can vary considerably from place to place, but, in essence, it means that the incumbent has the necessary expertise and experience to be entrusted with a wide range of accounting tasks. In some US states, people can’t call themselves accountants without having a CPA or something very similar.
6. Served in various positions at Paccar
Throughout his career, Armstrong has held various positions at Paccar. Those positions were initially related to accounting, but over time, his responsibilities have become increasingly extensive, which is perhaps not surprising considering his current role as CEO.
7. Did a good job with financial services
It is interesting to note that Paccar offers financial services to various parties. Additionally, one of the things that raised Armstrong’s profile is his capable handling of the financial services segment during the Great Recession, which was a very challenging task not only for that segment but for Paccar as a whole.
8. Run a cyclical business
Simply put, Paccar is a very cyclical business in the sense that it moves in step with economic times. When economies are booming, their sales are strong; Whereas when economies are bankrupt, well, suffice it to say, it suffers corresponding effects on all of its income-generating operations. Because of this, capable recession handling is one of the must-have skills for Paccar’s senior leadership members.
9. Unexpected choice
That said, Armstrong was a very unexpected choice for Paccar’s CEO. In part, this is because his predecessor had not given any indication that he was looking for a successor, which means that the choice was somewhat surprising. In fact, it should be mentioned that Armstrong’s predecessor was only a year older than him, which added to the surprise.
10. End of a dynasty
In a sense, Armstrong’s rise to the position of CEO can be seen as the end of a dynasty. In short, Paccar has been in charge of the Pigott family for most of its existence, which was all the more reason why Mark Pigott’s choice to hand over the CEO position to Armstrong was so shocking. That said, Pigott’s influence on the corporation hasn’t exactly come to an end, as evidenced by the way Mark Pigott serves as CEO, which is a position that tends to be more involved in day-to-day operations than most. . presidents.