The Board of CNH Industrial N.V. announced the appointment of Suzanne Heywood as Acting Chief Executive Officer, in addition to her role as Chair of the Board, to lead the business through this current unprecedented period and until a new permanent CEO has been identified by means of a thorough search process. The Board reached its unanimous decision and accepted the resignation of Hubertus M?hlh?user as Chief Executive Officer, who has left the Group with immediate effect. The Board thanked M?hlh?user for his dedicated leadership, service and numerous contributions during his tenure.

Suzanne Heywood, who is also Managing Director of Exor, CNH Industrial?s largest shareholder, has been Chair of CNH Industrial since July 2018. Prior to joining Exor, she was a Senior Partner at McKinsey & Company where she led the firm?s Global Organization Design business prior to which she worked in the UK Treasury. Suzanne Heywood is also a Board Member of the Economist and a Non-Executive Director of Chanel. In her combined role, she will chair the Group?s Global Executive Committee to provide the business with leadership during the coming months.

Meeting under her leadership, the Board also unanimously agreed on the appointment of Oddone Incisa as Chief Financial Officer, in addition to his current role as President, Financial Services. Incisa began his career with the Fiat Group in 1997 at Fiat Bank in Germany, and in 2001 was named Chief Financial Officer (CFO) of Banco Fiat, Brazil. In 2003 he was appointed Head of Financial Planning & Analysis, Fidis Retail and FGA Capital, Italy, and in 2008 was nominated CFO, CNH Capital, based in the US. From 2011 to 2013 Incisa held the position of Chief Executive Officer and General Manager, FGA Capital (now FCA Bank).

Incisa succeeds Max Chiara, outgoing Chief Financial and Sustainability Officer, who will remain available to support the new CFO?s transition over the next two weeks when Chiara will leave CNH Industrial to take up a new position. Suzanne Heywood commented, ?The Board and our entire leadership are united in our determination to ensure that CNH Industrial emerges even stronger from the huge challenges of the days, weeks and months ahead. Above all, my thanks go to our exceptional people, wherever they are, as they apply their outstanding skills, strengths and knowhow to this purpose. And it goes without saying that their health and safety will be our priority as together we work our way through to more normal times.?