Scott W. Wine is the new CEO of CNH Industrial. The CEO will take office in January 2021.
The appointment seems widely welcomed by the market, with the title Cnh which in Piazza Affari gains 2,17% to 8,926 euros, outperforming the Ftse Mib (+0,95%). The arrival of a new CEO, on the other hand, had been expected for over 7 months after the resignation of Hurbert Mulhauser who decided to leave the group in March 2020.
Wine, 51, has been CEO of Polaris since 2008, company specializing in the production of off-road vehicles, for snow, motorcycles, military vehicles), of which in 2013 he also became president. Under his leadership, the company more than tripled its revenue from $1,9 billion to $7 billion. Previously, he held senior positions at United Technologies Corporation, Danaher Corp, and Allied Signal Corp, which became Honeywell International after a 1999 merger. He also served as an officer in the United States Navy.
The note from CNH underlines “the extensive experience” of Wine “in merger operations and acquisition in the United States, Europe and Asia”. "The board of directors is fully satisfied with the appointment of Scott Wine, given his broad industrial experience and strategic expertise," said Suzanne Heywood, president and acting CEO of CNH Industrial. “Scott is determined to execute and execute on the strategy the company unveiled at its Capital Markets Day in 2019, including the on-highway business spin-off plan,” she added.
