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This is an archive article published on April 21, 2024

Iveco chief Marx quits to become CEO at CNH Industrial

Marx will replace Scott Wine who is leaving to pursue other interests, according to the company. Olof Persson will succeed Marx as Iveco chief, the company said.

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Iveco Group Chief Executive Gerrit Marx

Iveco Group Chief Executive Gerrit Marx is leaving the Italian bus and truck maker to take the position of CEO of farm and construction machinery group CNH Industrial from July 1, the companies said on Sunday.

Marx will replace Scott Wine who is leaving to pursue other interests, according to the company. Olof Persson will succeed Marx as Iveco chief, the company said.

Iveco said last month it plans to focus on new and deeper partnerships for future growth, unveiling a five-year business plan targeting a 20% bump in revenue by 2028.

CNH reported a higher fourth-quarter profit in February, boosted by strong prices for its farm and construction machinery despite slowing demand.

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