Jan 14, 2019 PRESS RELEASES Comments Off on CNH Industrial launches new organizational structure to accelerate global growth and profitability
London, January 14, 2019
CNH Industrial N.V. (NYSE: CNHI / MI: CNHI), one of the world’s largest capital goods companies, announced today it is laying the foundation for accelerated global growth and profitability by changing its organizational structure and strengthening and focusing its Global Executive Committee (“GEC”, formerly named “Group Executive Council”). The GEC is the operational decision-making body of CNH Industrial, which is responsible for reviewing the operating performance of the segments and making decisions on certain operational matters.
“Our industry is experiencing an ever-accelerating rate and growing magnitude of change fueled by megatrends such as digitalization, automation, electrification and servitization. Companies need to adapt, change and revitalize themselves continuously in order to meet these business challenges and successfully generate long-term value,” said Hubertus Mühlhäuser, Chief Executive Officer, CNH Industrial.
Consequently, the leadership of CNH Industrial conducted a detailed review into the way the Company does business. The assessment included, among other things, obtaining feedback from its customers and channel partners, reviewing internal processes and systems, as well as taking a close look at its organizational structure and governance. “While we found numerous areas of excellence, as indicated by our continued strong year-over-year performance, we also identified opportunities for improvement, such as changing our organizational set-up into the new organizational structure presented today,” noted Mr. Mühlhäuser.
Through the organizational changes announced today, CNH Industrial is seeking to become
Overall, the Company’s organization will be significantly simplified by strengthening its five global segments supported by streamlined global functions. The former regional structure will be largely absorbed into the operating segments, thus bringing the businesses closer to their customers and accelerating decision-making processes.
The five operating segments will be fully responsible for the global growth and performance of their respective businesses, increasing focus and accountability. Each operating segment will have Product Line Leaders, Brand Leaders and Support Function Leaders.
The five operating segments and the GEC members leading each of them are:
Given the enhanced focus of our five global operating segments, and the related transfer of business responsibility, the number and size of corporate functions has been reduced and their areas of responsibility streamlined.
Going forward, the corporate functions will focus on core Company tasks, including functional strategies, controls, systems and processes, reducing overheads and enabling faster decision-making and guaranteeing the adequate checks and balances in our new organization. At the same time, resources and funding have been reallocated allowing the Company to accelerate its activities in the areas of, amongst others, automation, vehicle electrification, digitalization and servitization.
The functional leaders and GEC members are:
The Global Executive Committee will be advised as appropriate by Legal, Internal Audit, Compliance, and Corporate Communications.
Implementation of these organizational changes will proceed over the coming months and will include the development of a CNH Industrial strategic business plan based on the new organizational structure and direction.
CNH Industrial N.V. (NYSE: CNHI /MI: CNHI) is a global leader in the capital goods sector with established industrial experience, a wide range of products and a worldwide presence. Each of the individual brands belonging to the Company is a major international force in its specific industrial sector: Case IH, New Holland Agriculture and Steyr for tractors and agricultural machinery; Case and New Holland Construction for earth moving equipment; Iveco for commercial vehicles; Iveco Bus and Heuliez Bus for buses and coaches; Iveco Astra for quarry and construction vehicles; Magirus for firefighting vehicles; Iveco Defence Vehicles for defence and civil protection; and FPT Industrial for engines and transmissions. More information can be found on the corporate website: www.cnhindustrial.com
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