CNH Industrial N.V. announced On April 20, 2024, Scott W. Wine resigned as Chief Executive Officer and Executive Director of CNH Industrial N.V., as well as from all other positions that he holds with CNH, effective as of July 1, 2024 (the ?Effective Date?). Mr. Wine?s resignation was not the result of any dispute or disagreement with the Company or the Board on any matter relating to the operations, policies or practices of the Company. Upon Mr. Wine?s resignation, the Board of the Company has appointed Mr. Gerrit Marx as the Company?s Chief Executive Officer effective as of July 1, 2024.

The Board intends to propose to a subsequent shareholders? meeting that Mr. Marx be elected to the Board and serve as an executive director of the Company. Gerrit Marx has more than 20 years of experience in roles of increasing importance in different locations around the world and in a variety of industrial segments, with a specific in-depth focus on automotive industries.

He holds a degree in Mechanical Engineering (?Diplom Ingenieur?) and an MBA (?Diplom Kaufmann?) from RWTH Aachen University, and a Doctorate in Business Administration from Cologne University. From 1999 to 2007, Mr. Marx was employed by McKinsey & Company, focusing on automotive and aerospace industries in Europe, Brazil, and Japan. He joined Daimler AG in 2007 to head the global controlling function for vehicle and powertrain component projects.

He was appointed President and Chief Executive Officer at Daimler Trucks China in 2009 and subsequently, President of Skoda China with Volkswagen AG. In 2012 Mr. Marx joined Bain Capital as a member of their portfolio group. This role included interim roles such as Chief Executive Officer of Wittur Group, a global Tier-1 supplier to the elevator industry.

Mr. Marx joined CNH in January 2019 as President of Commercial and Specialty Vehicles and is returning to CNH after serving as Chief Executive Officer of Iveco Group N.V. from the time of its spin-off from CNH on January 1, 2022. Mr. Marx is 49 years old.