A camshaft may include a first shaft, a bearing sleeve member located on and fixed to the first shaft, and a first lobe member located on the first shaft and displaceable between first and second positions. The first lobe member may be axially offset relative to the bearing sleeve member when in the first position to allow for machining of an outer surface of the bearing sleeve member and removal of machining debris from the outer surface. The first lobe member may be axially aligned with and bearingly supported on the bearing sleeve member when in the second position.