Gerrit Marx set to take over as CEO of CNH Industrial

Gerrit Marx (Photo: Reuters)

CNH Industrial has appointed Gerrit Marx as its new CEO. Marx will take over the position as of 1 July, 2024.

He replaces Scott W. Wine, who had requested to leave the company at the end of the current three-year business plan.

According to a separate report, Olof Persson, who is currently an Iveco Group Board Independent director, will replace Marx as CEO of Iveco Group.

Marx rejoins CNH from Iveco Group, where he led a ‘new era’ of connectivity, including integration of the latest digital and data technologies with the company’s product portfolio.

He had also chaired Iveco’s Powertrain business, overseeing the transition to alternative propulsion systems.

Scott Wine has been CEO of the company for more than three years. Over this period he managed the demerger of the company, while overseeing the change in focus to agriculture and construction.

Over his tenure, Wine delivered three consecutive years of record revenues and EBIT margins. Another key element of his tenure was the acquisition of Raven Industries, a developer of automated and autonomous ag solutions.

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 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 endeavors.”