The board of directors for Indianapolis-based Allison Transmission Holdings Inc. (NYSE: ALSN) has selected David Graziosi as the company's next chief executive officer. Graziosi, who currently serves as president and chief financial officer at Allison, will succeed Larry Dewey, who will retire at the end of May.

Graziosi joined Allison as executive vice president, CFO and treasurer in November 2007. He was named president in January 2016. Dewey announced plans for his retirement in December and the company said then that both internal and external candidates would be considered to succeed him. 

"Dave has been instrumental in all aspects of our financial management from day one, and, as he has taken on the responsibilities of President, he has led each of his functional groups to successfully implement a variety of initiatives to improve our business," said Dewey. "With Dave's very capable leadership supported by the efforts of the accomplished Allison team, I am excited about the future for Allison Transmission."

Graziosi will officially assume his new role June 1, 2018. The company says the board will begin searching for candidates to succeed Graziosi as CFO and implement a transition plan.