CNH Industrial, the parent company of the New Holland, Case IH and Steyr brands, has appointed a new CEO.

Gerrit Marx has been appointed to the role of CEO effective from 1 July 2024.

He succeeds Scott Wine, who will leave the company at the end of the current three-year business cycle to pursue other interests.

Marx rejoins CNH from the Iveco Group, where as CEO he has led that company’s drive into a new era of connectivity, integrating the latest digital and data technologies with Iveco’s product offering.

He has also chaired Iveco’s powertrain business, overseeing its transition to alternative propulsion systems.

Senior roles

Prior to first joining CNH in January 2019, Marx worked for 20 years in senior roles at McKinsey, Daimler Trucks and Bain Capital, living in Brazil, China, Europe and Japan.

During his time as CEO, Scott 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.

In this period, the company has more than doubled its R&D expenditures, launched ambitious margin improvement and value enhancement initiatives and by May 2024 will have returned more than $3bn to shareholders in the form of dividends and share buybacks.