CEO APPOINTMENT CONFRIMED

CNH Industrial has announced the appointment of Gerrit Marx (picured above) to the role of CEO effective 1st July 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.

Gerrit Marx rejoins CNH from Iveco Group where as CEO he led the company’s drive into what they describe as "a new era of connectivity, integrating the latest digital and data technologies with Iveco’s product offering." Prior to first joining CNH in January 2019, Gerrir worked for 20 years in senior roles at McKinsey, Daimler Trucks, and Bain Capital, living in Brazil, China, Europe and Japan.

During the more than three years of Scott Wine’s tenure as CEO, the manufacturer has shifted focus to purely agriculture and construction following the Iveco Group demerger and is now solely listed on the New York Stock Exchange. Among his achievements, the manufacturer says Scott has delivered three straight years of record revenues and EBIT margins while overseeing the improved performance of the company’s Agriculture segment, the turnaround of the Construction segment, and the 2021 acquisition of Raven Industries, the precision agriculture technology business.

CNH’s Chair, Suzanne Heywood said, “We’re delighted to welcome Gerrit back to CNH as CEO. We look forward to him bringing the same energy and focus he has demonstrated so effectively when leading Iveco, to his new role at a time when CNH is navigating the current end-market downcycle with an emphasis on managing inventory and costs, expanding margins, and harnessing the full potential of the newly established tech stack. On behalf of the Board, I would also like to thank Scott Wine for his leadership and considerable contribution to CNH’s progress in these years and wish him well in his future endeavours.”

Scott Wine will continue as the company’s CEO until the end of June.