CNH Enhances Leadership: Narinder Mittal Named President of India Operations

Delhi, July 29, 2024: The Global Leadership Team (GLT) of CNH Industrial (NYSE: CNH) executed a major reorganisation. The objective is to execute its strategic goals better and promote long-term growth in the construction and agriculture industries. All positions will report directly to CEO Gerrit Marx under the new leadership structure, which will go into effect on August 1, 2024. To present a revised strategy plan, an investor day is scheduled for early 2025.

CEO's Vision and Future Plans

Gerrit Marx said:

“I am confident that this leadership team will accelerate the delivery of world-class products and services that elevate our customers’ experience. Our unstinting focus on quality, our brands and the convergence of world-class iron and technology will guide our operational execution. I look forward to presenting our updated strategic plan at an Investor Day in early 2025 – Breaking New Ground together as we continue to claim our own turf in a competitive landscape,” said Gerrit Marx, CEO at CNH. “On behalf of the Company, I wish to thank Fritz Eichler, Marc Kermisch and Scott Moran for their valuable contributions and wish them all every success in their future endeavors outside of CNH.”

Key Changes in Leadership Structure

The restructuring focuses on simplifying the organisation into a matrix structure, emphasising speed and efficiency. CNH's leadership team now consists of industry-leading experts and practitioners with deep in-house knowledge and significant industry experience. These changes aim to enhance CNH’s ability to deliver high-quality products and services while ensuring long-term growth.

Segment Heads of Agriculture, Construction And Financial Services

Gerrit Marx, CEO of CNH, will take direct responsibility for the Agriculture segment. This change combines his previous role as the President of Agriculture, ensuring seamless oversight. Marx succeeds Scott Wine, emphasising continuity and focus on strategic growth.

The construction segment will become a distinct business unit within CNH, led by Humayun Chishti, who has been appointed the president of construction. Chishti, who joined CNH in 2002, previously served as the Finance Business Partner for Construction. This increased autonomy aims to enhance the segment's performance and innovation capabilities.

Douglas MacLeod, with over 15 years at CNH, continues as President of Financial Services, reinforcing CNH’s financial strategy and support for its segments.

Regional Leadership for Targeted Growth

The newly appointed Region Heads are important to CNH's strategy for regional growth and customer satisfaction. They are tasked with overseeing the financial performance and commercial execution of the Agriculture segment in their respective regions.

• North America: Vilmar Fistarol, with over 30 years of experience at CNH, continues as President of North America, focusing on growth and innovation in the region.
• EMEA: Carlo Alberto Sisto retains his position as President of EMEA. Sisto joined CNH in 1998 and brings vast experience to his role.
• Latin America: Rafael Miotto, who has been with CNH for over 20 years, is confirmed as President of Latin America, aiming to leverage his extensive experience for regional success.
• Asia Pacific (Excluding India): Luca Mainardi, previously China Country Manager, is appointed as President, Asia Pacific. Mainardi brings over 20 years of experience, most recently serving as Head of Brand Management & Commercial Services in the region.
• India: Narinder Mittal takes on the role of President of  India. His appointment reflects India's growing strategic importance as a market, sourcing hub, and center for engineering excellence. Mittal joined CNH in 2016 as India Country Manager. Narinder Mittal has been named President of India, reflecting the country’s expanding role as a major market, a key sourcing and manufacturing hub, and a centre for CNH’s engineering and technology. Previously, Mr. Mittal served as the India Country Manager and has been with CNH since 2016.

Functional Leadership for Strategic Execution

CNH has appointed key leaders to drive its commercial, technological, and operational strategies globally:

• Stefano Pampalone: Now the Agriculture Chief Commercial Officer, Pampalone oversees the Agriculture segment's commercial strategy. Previously President of Construction, Pampalone led the segment to record margin growth in 2023.
• Oddone Incisa: Confirmed as Chief Financial Officer, Incisa brings over 25 years of service at CNH, ensuring financial stability and growth.
• Jay Schroeder: Appointed as Chief Technology Officer, Schroeder has over 30 years of experience at CNH, focusing on research and development, most recently leading Agriculture Product Development.
• Carlos Santiago: Takes on the role of Chief Manufacturing Officer, also overseeing the CNH Business System. Santiago rejoined CNH in 2023 after a decade with Daimler and Mercedes Benz, bringing expertise in industrial operations from Brazil and North America.
• Tom Verbaeten: Continues as Chief Supply Chain Officer, having been with CNH since 1994, ensuring supply chain efficiency.
• Chun Woytera: Transitioning to Chief Quality & Customer Advocacy Officer and Chief Sustainability Officer, Woytera aims to advance quality, a cornerstone for customer success and future growth.
• Kelly Manley: Confirmed as Chief Human Resources Officer, Manley has been with CNH since 2021, focusing on developing human capital.
• Roberto Russo: Confirmed as Chief Legal and Compliance Officer, with over 35 years at CNH, ensuring legal integrity and compliance.

The Internal Audit function, led by Glenn Robertson, will report directly to the Audit Committee of the CNH Board of Directors, maintaining oversight and governance.

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