CNH announces Global Leadership Team changes
CNH announces Global Leadership Team
changes
Basildon, December 16, 2024
CNH (NYSE: CNH) today announces leadership
changes designed to capitalize on current market opportunities in
its Agriculture business in the North America and Europe, Middle
East and Africa (EMEA) regions. These developments will support the
Company at this stage of the agricultural cycle, readying it for
the upswing.
Scott Harris will assume the role of President,
North America, effective January 1, 2025. Markus Müller will join
CNH as President, EMEA, effective March 1, 2025. The Company has
selected these two new regional leaders based on their extensive
experience and capabilities. Their leadership will be instrumental
in executing CNH’s strategic goals and driving success in these
regions.
With this announcement, Vilmar Fistarol is
stepping down as President, North America, effective December 31,
2024, and he will remain in an advisory role with CNH during H1
2025. Furthermore, Carlo Alberto Sisto is stepping down as
President, EMEA, with immediate effect.
North America leadership
North America is a core region, offering
significant opportunities for CNH’s most advanced products,
technologies and services. Scott Harris brings multifaceted
experience across the Company’s agricultural operations, and is
currently the Global Brand President of Case IH and STEYR. In North
America, he has led both the Financial Services business – CNH
Capital – and the Parts & Service division. Scott Harris has
also helmed our CASE Construction Equipment, New Holland
Construction and Case IH brands in the region. Across these
leadership roles, he has gained intimate knowledge of our Case IH
and New Holland brands, their dealer networks, and customers across
the region.
EMEA leadership
Agriculture in the EMEA region is dynamic and
diverse, requiring a wide range of specialized solutions. CNH’s
portfolio is ideally placed to increasingly serve this region
across its different geographies and farm types. Starting March 1,
2025, Markus Müller will join CNH as President, EMEA.
Mr. Müller arrives from the global engine
manufacturer DEUTZ AG, and brings with him a wealth of relevant
industrial and commercial experience. He was most recently Chief
Technology and Chief Sales Officer, alongside serving as an
Executive Board Member. He began his career at DEUTZ AG in 2006
where prior to his most recent appointment, he served as Senior
Vice President of Product Development & Technical Customer
Support, preceded by leadership roles in Research &
Development. From 2016 – 2018, Mr. Müller was Managing Director of
HJS Emission Technology, where he was responsible for Product
Development, Operations and Sales.
Stefano Pampalone, Agriculture Chief Commercial
Officer, will assume the role of President, EMEA, ad interim, in
addition to his current responsibility until February 28. Mr.
Pampalone and Mr. Müller will work together over the coming months
to ensure a smooth transition in the leadership of the EMEA region
and its agriculture activities.
“Vilmar is stepping down as President, North
America at the end of 2024 after 34 years of outstanding service,
having positively impacted many areas of our business across our
global regions. He hands over the reins to Scott, who is the
natural choice to lead North America,” said Gerrit Marx, Chief
Executive Officer at CNH.
“I would like to warmly thank Carlo for his 26
years of committed service during which he has spearheaded
significant developments across our regions, most recently having
taken the helm of EMEA post-COVID and navigating a challenging
phase of the agriculture cycle. In Stefano, we have an experienced
leader who will ensure a smooth transition until Markus’s arrival
on March 1. We are excited to welcome Markus to the CNH team and
confident that his extensive industrial and commercial experience
will drive significant progress across the EMEA region,” said Mr.
Marx.
CNH Industrial
(NYSE: CNH) is a world-class equipment, technology and services
company. Driven by its purpose of Breaking New Ground, which
centers on Innovation, Sustainability and Productivity, the Company
provides the strategic direction, R&D capabilities, and
investments that enable the success of its global and regional
Brands. Globally, Case IH
and New Holland supply 360°
agriculture applications from machines to implements and the
digital technologies that enhance them; and
CASE and New Holland
Construction Equipment deliver a full lineup of
construction products that make the industry more productive. The
Company’s regionally focused Brands include:
STEYR, for agricultural
tractors; Raven, a leader in
digital agriculture, precision technology and the development of
autonomous systems; Hemisphere,
a leading designer and manufacturer of high-precision
satellite-based positioning, and heading technologies;
Flexi-Coil, specializing in tillage
and seeding systems; Miller,
providing tillage, seeding and hay & forage implements;
and Eurocomach, producing a wide
range of mini and midi excavators for the construction
sector, including electric solutions.
Across a history spanning over two
centuries, CNH has always been a pioneer in its sectors and
continues to passionately innovate and drive customer efficiency
and success. As a truly global company, CNH’s 40,000+ employees
form part of a diverse and inclusive workplace, focused on
empowering customers to grow, and build, a better
world.
For more information and the latest
financial and sustainability reports visit:
cnh.com
For news from CNH and its Brands visit:
media.cnh.com
Contacts:
Media Relations
Email: mediarelations@cnh.com
Investor Relations
Email: investor.relations@cnh.com
Forward-looking Statements
All statements other than statements of
historical fact contained in this press release including
competitive strengths; business strategy; future financial position
or operating results; budgets; projections with respect to revenue,
income, earnings (or loss) per share, capital expenditures,
dividends, liquidity, capital structure or other financial items;
costs; and plans and objectives of management regarding operations
and products, are forward-looking statements. Forward-looking
statements also include statements regarding the future performance
of CNH and its subsidiaries on a standalone basis. These statements
may include terminology such as “may”, “will”, “expect”, “could”,
“should”, “intend”, “estimate”, “anticipate”, “believe”, “outlook”,
“continue”, “remain”, “on track”, “design”, “target”, “objective”,
“goal”, “forecast”, “projection”, “prospects”, “plan”, or similar
terminology. Forward-looking statements are not guarantees of
future performance. Rather, they are based on current views and
assumptions and involve known and unknown risks, uncertainties and
other factors, many of which are outside our control and are
difficult to predict. If any of these risks and uncertainties
materialize (or they occur with a degree of severity that the
Company is unable to predict) or other assumptions underlying any
of the forward-looking statements prove to be incorrect, including
any assumptions regarding strategic plans, the actual results or
developments may differ materially from any future results or
developments expressed or implied by the forward-looking
statements.
Factors, risks and uncertainties that could
cause actual results to differ materially from those contemplated
by the forward-looking statements include, among others: economic
conditions in each of our markets, including the significant
uncertainty caused by geopolitical events; production and supply
chain disruptions, including industry capacity constraints,
material availability, and global logistics delays and constraints;
the many interrelated factors that affect consumer confidence and
worldwide demand for capital goods and capital goods-related
products, changes in government policies regarding banking,
monetary and fiscal policy; legislation, particularly pertaining to
capital goods-related issues such as agriculture, the environment,
debt relief and subsidy program policies, trade and commerce and
infrastructure development; government policies on international
trade and investment, including sanctions, import quotas, capital
controls and tariffs; volatility in international trade caused by
the imposition of tariffs, sanctions, embargoes, and trade wars;
actions of competitors in the various industries in which we
compete; development and use of new technologies and technological
difficulties; the interpretation of, or adoption of new, compliance
requirements with respect to engine emissions, safety or other
aspects of our products; labor relations; interest rates and
currency exchange rates; inflation and deflation; energy prices;
prices for agricultural commodities and material price increases;
housing starts and other construction activity; our ability to
obtain financing or to refinance existing debt; price pressure on
new and used equipment; the resolution of pending litigation and
investigations on a wide range of topics, including dealer and
supplier litigation, intellectual property rights disputes, product
warranty and defective product claims, and emissions and/or fuel
economy regulatory and contractual issues; security breaches,
cybersecurity attacks, technology failures, and other disruptions
to the information technology infrastructure of CNH and its
suppliers and dealers; security breaches with respect to our
products; our pension plans and other post-employment obligations;
political and civil unrest; volatility and deterioration of capital
and financial markets, including pandemics (such as the COVID-19
pandemic), terrorist attacks in Europe and elsewhere; the
remediation of a material weakness; our ability to realize the
anticipated benefits from our business initiatives as part of our
strategic plan; including targeted restructuring actions to
optimize our cost structure and improve the efficiency of our
operations; our failure to realize, or a delay in realizing, all of
the anticipated benefits of our acquisitions, joint ventures,
strategic alliances or divestitures and other similar risks and
uncertainties, and our success in managing the risks involved in
the foregoing.
Forward-looking statements are based upon
assumptions relating to the factors described in this press
release, which are sometimes based upon estimates and data received
from third parties. Such estimates and data are often revised.
Actual results may differ materially from the forward-looking
statements as a result of a number of risks and uncertainties, many
of which are outside CNH’s control. CNH expressly disclaims any
intention or obligation to provide, update or revise any
forward-looking statements in this announcement to reflect any
change in expectations or any change in events, conditions or
circumstances on which these forward-looking statements are
based.
Further information concerning CNH, including
factors that potentially could materially affect its financial
results, is included in the Company’s reports and filings with the
U.S. Securities and Exchange Commission ("SEC").
All future written and oral forward-looking statements by CNH or
persons acting on the behalf of CNH are expressly qualified in
their entirety by the cautionary statements contained herein or
referred to above.
Additional factors could cause actual results to differ from
those expressed or implied by the forward-looking statements
included in the Company’s filings with the SEC (including, but not
limited to, the factors discussed in our 2023 Annual Report and
subsequent quarterly reports).
- 20241216_PR_CNH_GLT_Announcement_NA_EMEA
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