Big news here for the farm equipment industry here.
CNH Industrial yesterday named Scott W. Wine as new incoming CEO. CNH Industrial (www.cnhindustrial.com) is maker of CaseIH (www.caseih.com) and New Holland www.agriculture.newholland.com) agricultural equipment. Wine leaves Polaris Inc. as CEO and Chairman after a very successful 12 year run that transformed the Minnesota based firm into a Fortune 500 company with approximately $7B in annual revenue (www.polaris.com).
The move comes at a pivotal time as CNH Industrial is dividing its “on-highway” and “off-highway” biz segments and is looking to focus solely on “off-highway”.
Here was the press release from CNH Industrial yesterday.
CNH Industrial announces appointment of new Chief Executive Officer
London, November 17, 2020
CNH Industrial N.V. (NYSE: CNHI / MI: CNHI) announces the appointment of Scott W. Wine as Chief Executive Officer, effective January 4, 2021. As a proven leader with considerable international
experience across a variety of industries, Mr. Wine has a track record of producing exceptional results. Mr. Wine joins the Company from Polaris Inc. (NYSE: PII) where he was, since 2008, Chief Executive Officer and Chairman and CEO since 2013.
Prior to joining Polaris, Scott Wine held executive positions with United Technologies Corporation,
Danaher Corp. and Allied Signal Corp., which became Honeywell International, Inc. after a 1999
merger. He also served as a United States naval officer. Mr. Wine brings extensive expertise in
mergers and acquisitions in the U.S.A, Europe and Asia.
“The Board is delighted at the appointment of Scott Wine, given his broad industrial experience and
strategic expertise,” said Suzanne Heywood, Chair and Acting Chief Executive Officer, CNH Industrial N.V. “Scott is committed to delivering the strategy that the company outlined at its Capital Markets Day in 2019, including the plan to spin-off its on-highway activities.”