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)
Copyright (c) 2024 Dow Jones & Company, Inc.-
What’s Happening in the Markets This Week
-
Worst-Performing Stock ETFs of the Quarter
-
Q3 in Review and Q4 2024 Market Outlook
-
Top-Performing Stock ETFs of the Quarter
-
September Jobs Report Forecasts Show Moderate Hiring Gains
-
Port Strike a Headache for Shippers but a Potential Tailwind for Certain US Transport Stocks
-
13 Charts on Q3′s Roller-Coaster Rally for Stocks and Bonds
-
5 Stocks to Buy Instead of Overpriced US Equities
-
Consumer Defensives: Despite Angst, Thirsty Investors Have Names to Pursue
-
Industrials: Many Stocks Overvalued After Q3 Outperformance
-
Basic Materials: Despite Index Rise, We See Multiple Long-Term Opportunities
-
What the Election Could Mean for Big Tech Stocks
-
3 Lessons From Recent Stock Market Drama
-
Consumer Cyclicals: Even Amid Moderating Consumer Spending, We See Discounts
-
Healthcare: Valuations Look Fair Overall, With Select Industries Still Undervalued
-
Utilities: Falling Interest Rates, Growth Outlook Boosting Stocks