CNH Industrial announces new CEO: Gerrit Marx takes command in July 2024

CNH Industrial NV has announced the appointment of Gerrit Marx as the company's new CEO effective July 1, 2024. Marx will succeed Scott Wine, who requested to leave at the end of the current three-year business plan cycle to pursue other interests . The decision was accepted by the company's board.

Gerrit Marx returns to CNH after a significant period as CEO of the Iveco Group. He also presided over Iveco's powertrain business, overseeing the transition to alternative propulsion systems. Before joining CNH in January 2019, Marx had a 20-year career in leadership positions at McKinsey, Daimler Trucks and Bain Capital, residing in locations such as Brazil, China, Europe and Japan.

During Scott Wine's more than three-year tenure as CEO, CNH Industrial consolidated itself as a company focused exclusively on agriculture and construction following the split from the Iveco Group. According to a company statement, among his achievements, Wine managed to deliver three consecutive years of record revenues and EBIT margins, in addition to improving the performance of the agriculture segment, revitalizing the Construction segment and acquiring Raven Industries, a company specializing in technology for agriculture. precision, in 2021.

Suzanne Heywood, CNH Chairman, commented on the appointment: “We are delighted to welcome Gerrit back to CNH as CEO. We expect him to bring the same energy and focus that he effectively demonstrated while leading Iveco, to his new role at a time when CNH is navigating a down market cycle, with an emphasis on inventory and cost management, expanding margins and full use of the potential of the new technological set established. On behalf of the board, I would also like to thank Scott Wine for his leadership and considerable contribution to the progress of CNH over the years and wish him success in his future endeavors.”

With Marx's appointment, the investor day presentation, scheduled for May 21, 2024, will be postponed to a later date to allow Marx to lead the company's planning and objectives for the next phase of its development. Meanwhile, first quarter financial results will be presented as planned in a conference call on May 2, 2024 by Scott Wine, who will continue as the company's CEO until the end of June.