Iveco Group Appoints a New CEO

Turin, Italy- Iveco Group N.V., a commercial vehicle manufacturer, Mr. Olof Persson will replace Mr. Gerrit Marx as Group CEO while Marx leaves to become CEO of CNH Industrial N.V. on July 1, 2024.

Mr. Olof Persson currently holds an independent director on Iveco Group's board, after take over as CEO he will be contributing to the development of recent strategic plans at Capital Markets Day.

Previously he had leadership roles at ABB, Bombardier Transportation, Volvo Group, and Cerberus Operations, joined Iveco group in 2022.

Ms. Suzanne Heywood, Chair of Iveco Group, said “On behalf of everyone at Iveco Group I’d like to thank Gerrit for his energetic and successful leadership over the past two and half years and wish him every success in his new role. We are fortunate indeed that Olof, with his wealth of relevant industry experience, will step in as CEO and provide a guarantee of continuity in execution of the plans we presented in March.”

Mr. Olof Persson said, “As a Board member I have been greatly impressed by the entire Iveco Group team as they have opened the company to the opportunities of the digital era and the transition to alternative propulsion technologies. I couldn’t be more delighted to have this opportunity to step in to the CEO role, ensuring that we maintain our laser focus on serving all our stakeholders and applying the very best of our many and growing capabilities.”

Mr. Gerrit Marx said, “Olof is not only a valued member of our Board but has been a close mentor to me and the senior Iveco Group team. His extensive executive leadership experience, deep industry knowledge and understanding of our Group will ensure continued strong momentum for the plans we recently presented. I’m deeply proud of the achievements of my Iveco Group colleagues during these important and exciting years since our listing and have no doubt that under Olof’s leadership our great company will continue to go from strength to strength.”