Former Polaris Inc. CEO Scott Wine had joined CNH Industrial in 2021 as CEO. Effective this summer, he's exiting in what analysts have described as an unexpected move. CNH Industrial NV's shares fell by the most since November after Bank of America downgraded the farm machinery maker following an unexpected leadership change. Investors don't always like surprises, especially when they involve leadership. Shares of agricultural-machinery maker CNH Industrial took a hit following the news of Wine's departure.
CNH NAMES GERRIT MARX AS CEO Mr. Marx returns to CNH from Iveco Group, succeeding Scott W. Wine who has decided to leave the Company having served as CEO since 2021. CNH Industrial has a new CEO. Gerrit Marx will succeed incumbent CEO Scott Wine, who has submitted his resignation to the company's board. CNH Industrial is appointing Gerrit Marx to the role of CEO, effective July 1, 2024. Marx will replace current CEO Scott Wine.
The holding company of Italy's Agnelli family has overseen a shakeup at the top of two of its major industrial groups, with Scott Wine making the decision to leave his position as CEO of CNH Industrial. Gerrit Marx will succeed Scott Wine as of July 1. CNH Industrial announces the appointment of Gerrit Marx as CEO starting from July 1, 2024. The company is bracing for a new era under Marx's leadership.