Gerrit Marx will succeed Scott Wine as CEO of CNH Industrial on July 1, 2024. Wine announced his resignation upon completion of the current three-year business plan cycle, according to the company. CNH is the parent company of Case Construction Equipment, and recently opened a new plant for Case that is dedicated to mini-excavators and mini track loaders, including electric models..
Marx rejoins CNH from Iveco Group, where he has been CEO. His prior stint with CNH began in 2019. At Iveco, Marx integrated digital and data technologies with Iveco’s product offering. He has also chaired Iveco’s powertrain business overseeing its transition to alternative propulsion systems, according to CNH.
“We’re delighted to welcome Gerrit back to CNH as CEO,” said Suzanne Heywood, chair, in a statement. “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,” she said.
During Wine’s tenure as CEO, CNH demerged from Iveco Group to become an agriculture and construction “pure-play” solely listed on the New York Stock Exchange, according to the company. Wine has delivered three straight years of record 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.
