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CNH INDUSTRIAL N.V.

(CNHI)
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CNH Industrial N : names designated CEO of On-Highway business

06/11/2021 | 08:32am EDT

​London, June 11, 2021

As work proceeds apace to deliver the previously announced spin-off of its On-Highway business, CNH Industrial N.V. (NYSE: CNHI / MI: CNHI) has named Gerrit Marx as the designated Chief Executive Officer of the new entity, which is expected to assume independent operations in early 2022.

The new On-Highway business will include the following brands and their respective activities: IVECO (heavy, medium and light commercial vehicles), IVECO ASTRA (heavyduty trucks), IVECO BUS and Heuliez Bus (buses and coaches), Magirus (firefighting vehicles), Iveco Defence Vehicles (defense and civil protection vehicles), FPT Industrial (powertrain technologies) and Iveco Capital (Financial Services).

Gerrit Marx joined CNH Industrial as President of Commercial and Specialty Vehicles in January 2019. Mr. Marx has some 20 years of experience in roles of increasing importance at organizations which include McKinsey & Company, Daimler AG, Skoda and most recently at global equity firm Bain Capital. He has worked across different geographies and in a variety of industrial segments, with specific, in-depth focus on automotive industries.

'On behalf of the Board of Directors, I wish to congratulate Gerrit on this appointment. We are confident that his expertise in commercial vehicles, together with his demonstrated leadership of our Commercial and Specialty Vehicles segment, will serve him well in taking the new company forward,' said Suzanne Heywood, Chair of the CNH Industrial Board of Directors.

Disclaimer

CNH Industrial NV published this content on 11 June 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 June 2021 12:31:05 UTC.


© Publicnow 2021
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Financials (USD)
Sales 2021 30 521 M - -
Net income 2021 1 454 M - -
Net cash 2021 1 196 M - -
P/E ratio 2021 14,4x
Yield 2021 1,07%
Capitalization 21 885 M 21 885 M -
EV / Sales 2021 0,68x
EV / Sales 2022 0,61x
Nbr of Employees 64 016
Free-Float 55,9%
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Number of Analysts 10
Last Close Price 16,16 $
Average target price 20,15 $
Spread / Average Target 24,7%
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Managers and Directors
Scott Wellington Wine Chief Executive Officer & Director
Oddone Incisa della Rocchetta CFO & President-Financial Services
Suzanne Heywood Chairman
Jayanthi Iyengar Chief Technology Officer
Léo W. Houle Senior Independent Non-Executive Director
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