CNH Industrial announces change to Board of Directors

Rhea-AI Summary

On September 28, 2020, CNH Industrial N.V. (NYSE: CNHI) announced the immediate resignation of board member Nelda J. Connors. Connors, who also served on the Audit Committee, cited her inability to commit sufficient time due to existing executive responsibilities. CNH Industrial is a global leader in capital goods, operating various brands in sectors including agriculture, construction, and commercial vehicles. Her resignation raises questions about board continuity and leadership impact.

Positive

• None.

Negative

• Resignation of Nelda J. Connors raises concerns about board continuity.
• Experience gap in the board due to loss of an independent director.

London, September 28, 2020

CNH Industrial N.V. (NYSE: CNHI / MI: CNHI) today announced that Nelda J. Connors, an independent member of the board of directors of CNH Industrial N.V. (the “Board”) and member of its Audit Committee, has decided to step down with immediate effect.

“I have greatly enjoyed my tenure with CNH Industrial. It has become evident, however, that owing to multiple existing executive obligations, I did not feel I was able to dedicate sufficient time to appropriately follow my commitments to the Company’s board,” said Ms. Connors.

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

Contacts:

Corporate Communications

Email: mediarelations@cnhind.com

Investor Relations

Email: investor.relations@cnhind.com

Attachment

• 20200928_PR_CNH_Industrial_Board_of_Directors_Change

FAQ

Why did Nelda J. Connors resign from CNH Industrial's Board?

Nelda J. Connors resigned due to her inability to dedicate sufficient time to her commitments because of multiple existing executive obligations.

What impact does the resignation of Nelda J. Connors have on CNH Industrial?

The resignation may raise concerns about board continuity and could potentially affect decision-making processes at CNH Industrial.

Who is Nelda J. Connors in relation to CNH Industrial?

Nelda J. Connors was an independent member of CNH Industrial's board of directors and served on its Audit Committee.

What is CNH Industrial's primary business focus?

CNH Industrial is a global leader in the capital goods sector, manufacturing equipment for agriculture, construction, and commercial vehicles.

What brands operate under CNH Industrial?

CNH Industrial includes brands such as Case IH, New Holland Agriculture, Steyr, and Iveco, among others, across various industrial sectors.