Iveco Shares Fall After CEO Leaves for CNH Industrial
By David Sachs
Iveco shares slipped Monday following the departure of chief executive Gerrit Marx for CNH Industrial and the appointment of Olof Persson in his place.
At 0827 GMT, shares in Iveco were down 4.3% at EUR11.63. Iveco's stock has leapt 38% in the last 12 months.
The Italian truck and bus maker said Sunday that Marx would lead U.S.-listed CNH and that Persson would take over as CEO on July 1.
Both companies are controlled by Italian holding company Exor, which is headed by the Agnelli family. Iveco was a subsidiary of CNH before becoming an a separate firm in 2022.
Persson is on the board of directors at Iveco and has been highly involved in the group's recent strategy development, the company said.
Write to David Sachs at david.sachs@wsj.com
(END) Dow Jones Newswires
April 22, 2024 04:51 ET (08:51 GMT)
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