EXOR N.V., the listed diversified holding company controlled by the Agnelli family, supports the new business plan presented today in New York by CNH Industrial’s management team during its Capital Markets Day.
The “Transform 2 Win” plan establishes clearly defined and strongly positive profitable growth objectives and includes the spin-off by early 2021 of CNH Industrial’s ‘On-Highway’ assets (commercial vehicles and powertrain segments), to be listed alongside the Group’s ‘Off-Highway’ assets (agriculture, construction and specialty segments), resulting in two distinct world leading businesses, each focused on creating value in their respective areas of activity.
Commenting, John Elkann, EXOR Chairman and Chief Executive said:
"As CNH Industrial’s single largest shareholder, EXOR strongly supports this ambitious plan to release the company’s full potential for the benefit of all its shareholders. This is fully aligned with our long-term approach of backing management teams with the vision and determination to build great companies for the benefit of all their stakeholders.”
EXOR will continue to be the shareholder of reference in both entities following completion of the spin-off process.