CNH Names Gerrit Marx as CEO, Marks His Return from Iveco Group

Key Highlights

• Gerrit Marx appointed CEO of CNH, effective July 1, 2024.
• Marx returns from Iveco Group, bringing digital integration expertise.
• Scott Wine steps down after three years of record revenues.
• Marx's leadership heralds a new phase for CNH.
• Investor Day postponed for strategic planning under Marx's guidance.

CNH Industrial N.V. (NYSE: CNHI) announces the appointment of Gerrit Marx to the role of CEO effective July 1, 2024. He succeeds Scott Wine, whose request to leave the Company at the end of the current three-year business plan cycle to pursue other interests has been accepted by the Board.

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Marx Returns to Lead CNH

CNH Industrial N.V. (NYSE: CNHI) has declared Gerrit Marx as its new CEO, starting from July 1, 2024. Marx's return to the company marks a significant shift in leadership. He will take over from Scott Wine, who has decided to step down to pursue other endeavors following the completion of the current three-year business plan cycle.

Experience from Iveco Group

Marx re-enters CNH from Iveco Group, where he holds the position of CEO. At Iveco, he spearheaded the integration of digital and data technologies into the company's product offerings, marking a transition toward a new era of connectivity. Additionally, Marx chaired Iveco’s powertrain business, overseeing its shift towards alternative propulsion systems.

Acknowledging Scott Wine's Contributions

During Scott Wine’s tenure as CEO, CNH underwent significant changes, becoming solely focused on agriculture and construction following the demerger of Iveco Group. Under Wine’s leadership, CNH achieved record revenues and EBIT margins for three consecutive years. His tenure also saw notable achievements such as the turnaround of the Construction segment and the acquisition of Raven Industries in 2021.

Anticipation for the Future

Suzanne Heywood, CNH’s Chair, expressed anticipation for Marx's return, highlighting his effective leadership during his time at Iveco. She extended gratitude to Scott Wine for his leadership and wished him success in his future endeavors.

Transition and Planning Ahead

With Marx set to assume the role of CEO on July 1, 2024, CNH has decided to postpone its Investor Day presentation scheduled for May 21, 2024. This delay will allow Marx to lead the planning and objectives for the company's next phase of development. However, the first-quarter financial results will proceed as planned on May 2, 2024, presented by Scott Wine, who will continue as CEO until the end of June.

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CMV360 Says

CNH Industrial N.V.'s appointment of Gerrit Marx as CEO signifies a strategic transition, leveraging his expertise from the Iveco Group. Acknowledging Scott Wine's impactful leadership, the company looks ahead with anticipation under Marx's guidance. Postponing the Investor Day, CNH prepares for a new phase of development with Marx at the helm.