Fiat Industrial says Tobin to be CNH Industrial CEO after merger


NEWS.GNOM.ES – 

MILAN (NEWS.GNOM.ES) – Fiat Industrial said on Monday its Chief Operating Officer Richard Tobin would run CNH Industrial, the new company that will be formed CNH in the autumn.

The appointment, which was widely expected, completes top management appointments at the new group which is expected to be created at the end of September.

“Rich will be assuming the position of Chief Executive of CNH Industrial upon completion of the merger,” Fiat Industrial and CNH Chairman Sergio Marchionne said in a statement.

Tobin, CFO at Switzerland’s SGS Group in Geneva before joining CNH in 2010, is currently also CNH’s CEO.

Fiat Industrial and CNH also said in a joint statement that Massimiliano Chiara will take over as chief financial officer of the new company from Pablo Di Si, who was leaving the group.

After the merger Fiat Industrial will move its corporate headquarters to the Netherlands. The new CNH Industrial group will have a primary stock listing in the U.S.

Marchionne, who is also CEO of Fiat , has previously said the Fiat Industrial-CNH merger “is one of the technical blueprints” for a future Fiat-Chrysler marriage”.

The Turin-based Fiat, Italy’s biggest private employer, is in talks with Chrysler’s minority shareholder VEBA to buy the 41.5 percent stake it does not already own.

(Reporting by Silvia Aloisi and Stephen Jewkes; Editing by Louise Heavens)