CNH Industrial names Francesco Tanzi CFO of Iveco post spin-off By Reuters

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© Reuters. FILE PHOTO: Flags with CNH Industrial logo are pictured outside CNH Industrial building in Turin, Italy, February 5, 2020. REUTERS/ Massimo Pinca/File Photo

MILAN (Reuters) – Italian-American vehicle maker CNH Industrial (NYSE:) said on Tuesday it had appointed Francesco Tanzi as chief financial officer of its commercial vehicle unit Iveco after its planned spin-off early next year.

CNH Industrial said in 2019 it planned to split in two and separately list its lower-margin Iveco truck and bus units along with its FPT engine division to boost asset values and streamline its businesses.

Tanzi will join Iveco on Jan. 1 after stepping down from his role as CFO at tyre manufacturer Pirelli, a position he has held for the past 12 years.

Earlier this year CNH Industrial, which is controlled by Exor (OTC:), the holding company of Italy’s Agnelli family, nominated its president for commercial and speciality vehicles unit Gerrit Marx as chief executive of the new Iveco group.

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