CNH Industrial Announces Marx as New CEO

CNH Industrial named Gerrit Marx as its next chief executive officer, replacing Scott W. Wine, who has led the United Kingdom-based company for more than three years.

Marx rejoins CNH from Iveco Group, where he led the company’s integration of digital and data technologies with the company’s product portfolio, leading the ‘new era’ of connectivity. Marx will take over the position on 1 July, 2024.

While in charge, Wine lead the comapny's pivot toward agriculture and construction, pushing the $27-billion company to three consecutive years of record revenues. 

“We’re delighted to welcome Gerrit back to CNH as CEO,” Suzanne Heywood, CHN’s chair said 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."

In addition to record revenue, Wine also led CNH’s demerger from Iveco Group and its subsequent listing on the New York Stock Exchange (NYSE:CNHI) while also turning around the company’s struggling construction segment with the acquisition of Raven Industries, a precision agriculture technology business, in 2021. 

Under his leadership, CNH doubled R&D expenditures, promised to improve margins and paid more than $3 billion to shareholders through dividends and share buybacks.

Wine stepped away to pursue other opportunities, the company said.