the New York Stock Exchange (NYSE) to announce the delisting of the company, after 98 years of trading, although the NYSE subsequently delayed the delisting pending an appeal by Navistar. However, Navistar was removed from the S&P 500 Index, and the NYSE eventually denied Navistar's appeal and delisted the stock; it traded on the Pink Sheets until 30 June 2008, when it was relisted on the NYSE, under its previous ticker symbol, NAV, after catching up with its filings. Christopher Anderson, the Deloitte partner responsible for the 2003 audit, accepted a one-year suspension from public audits in 2008, and became the first individual to be fined by the Public Company Accounting Oversight Board. CEO Daniel Ustian agreed to surrender to Navistar shares worth $1.3 million, while former Chief Financial Officer Robert C. Lannert consented to repay $1.05 million, each sum reflecting monetary bonuses they had received during the restatement period, the SEC said. Four other company executives paid civil penalties without admitting liability. In December 2014, Navistar disclosed more accounting problems. These involved out-of-period adjustments, which were corrections of prior period errors relating to product warranties. This resulted in a $36 million increase in Cost of Products Sold. In addition, a material weakness was disclosed. In the company's annual 10K, they reported that weakness was "surrounding validation of the completeness and accuracy of underlying data used in the determination of significant accounting estimates and accounting transactions. Specifically, controls were not designed to identify errors in the underlying data which was used to calculate warranty cost estimates and other significant accounting estimates and the accounting effects of significant transactions. Failed engine strategy In 2001, then CEO Dan Ustian faced numerous United States Environmental Protection Agency (EPA) regulations to reduce the amount of nitrogen oxides and soot emanating from diesel engines. Despite the change in the compliance arena, the regulations would not begin to be phased in until 2007, with full implementation slated for 2010. Ustian had multiple engineering paths available. Among them were Selective Catalytic Reduction (SCR), Exhaust Gas Recirculation (EGR), or the use of nitrogen oxide absorbers. All required more engineering and development to achieve compliance. Ustian believed truckers did not want to bother with an extra tank of fluid after treatment. As a result, he convinced the company to spend $700 million to fund EGR development. On October 31, 2007, Navistar formally announced their intent to move forward with