Form 8-K/A · Current Report · Filed 2024-06-26
CNH Industrial Announces New CEO Appointment and Employment Agreement
CNH Industrial N.V. has announced the appointment of Gerrit Marx as its new Chief Executive Officer effective July 1, 2024. The company has entered into an employment agreement with Mr. Marx, which includes an annual base salary of $1,250,000, a sign-on cash bonus of €412,500, and various equity and long-term incentive awards. The agreement also outlines severance and post-termination benefits under certain conditions. The current CEO, Scott W. Wine, will continue in his role until June 30, 2024.
- Filer
- CNH Industrial N.V. CNH · NYSE
- Filed
- Accession
- 0001193125-24-169103
- CIK
- 0001567094
- Signal
- High impactIndustrials
- Source
- Official filing on sec.gov ↗
Items reported
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers
Financial Statements and Exhibits
Market reaction
Close before filing
$9.91
Next session
+2.8%
Since filing
+37.7%
Latest close
$13.65
What happened, not what will happen — closing prices around the filing date.
Precedent
Previous filings from CNH reporting the same item, with the next session's move:
Exhibits (1)
About CNH Industrial N.V.
CNH Industrial N.V. is a global leader in the capital goods sector, engaged in the design, production, and sale of agricultural and construction equipment, commercial vehicles, and powertrains. As a prominent manufacturer, CNH Industrial operates through various well-known brands like Case IH, New Holland Agriculture, and Iveco. These brands enable the company to address diverse market needs across farming, construction, and industrial sectors. CNH Industrial's offerings support vital industries by providing machinery and equipment essential for efficient operations, thus playing a crucial role in bolstering productivity in these fields. Additionally, the company is involved in the development of advanced technologies to enhance machine efficiency and sustainability. Headquartered in Amsterdam, Netherlands, CNH Industrial maintains a strong global presence with operations spanning multiple continents, underscoring its significant influence in shaping industrial and agricultural machinery markets.
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