CNH Industrial appoints Gerrit Marx to the role of CEO effective July 1, 2024. Marx 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.
Mr. Marx rejoins CNH from Iveco Group where as CEO he has led that company’s drive into a new era of connectivity, integrating the latest digital and data technologies with Iveco’s product offering. He has also chaired Iveco’s powertrain business overseeing its transition to alternative propulsion systems. Prior to first joining CNH in January 2019, Mr. Marx 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 Mr. Wine’s tenure as CEO, CNH has become an agriculture and construction company, following the Iveco Group demerger and is now solely listed on the New York Stock Exchange. Among his achievements, Mr. Wine has delivered three years of solid 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 commented: “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 down cycle 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 endeavors.”
