CNH Industrial CEO resigns

By Mike Hayes23 March 2020

Hubertus Mühlhäuser

Hubertus Mühlhäuser, outgoing CEO of CNH Industrial

CNH Industrial has announced that its CEO, Hubertus Mühlhäuser, has left the group with immediate effect, following the board’s decision to accept his resignation.

Suzanne Heywood has been appointed acting CEO, while a new long-term replacement is sought.

The board said its decision to select Heywood for the interim role was unanimous. She is also currently managing director of Exor, CNH Industrial’s largest shareholder and has been chair of the group since July 2018.

CNH Industrial’s businesses include Case Construction, New Holland Construction, Iveco, FPT, New Holland Agriculture and Magirus.

Previously, Heywood was a senior partner with the global management consultancy McKinsey, as well as holding a senior position at the UK Treasury.

Under her leadership, CNH will continue with its Transform 2 Win strategy, which will see the on-highway assets (namely commercial vehicles and powertrains) and off-highway assets (predominantly agricultural and construction equipment) listed separately.

The board said it would report its financial results for the first quarter of 2020 on May 6, as originally planned.

It stressed, however, that it was taking regular advice on financial reporting best practice, given the ongoing Covid-19 crisis.

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