Update to Article Aug. 9 — Reuters notes one of the first matters that Mühlhäuser will have to decide on is whether the company will make any strategic moves flagged by his predecessor, Richard Tobin, who resigned in March to become president and CEO of Dover Corp. Tobin said earlier in the year he was open to considering spinning off some of the company's units.

CNH Industrial N.V. announced the appointment of Hubertus Mühlhäuser as Chief Executive Officer, effective Sept. 17. To be based at the company's Burr Ridge, Chicago, offices, he brings extensive leadership experience at multinational industrial companies, a deep knowledge of the agriculture and construction sectors as well as strategic expertise. The company anticipates convening an extraordinary shareholders meeting seeking shareholder approval for the appointment of Mühlhäuser to the company’s Board of Directors.

Mühlhäuser joins the company from Welbilt Inc., where he was Director, President and Chief Executive Officer since 2015. Prior to this, he worked at AGCO Corp., heading its EMEA and Asia Region businesses as well as its global engine division. He also held the position of Senior Vice President of Strategy and Integration for AGCO. Before joining Welbilt Inc., he dedicated two years to his family business, the tunneling specialist Mühlhäuser Holding Ltd., where he has been Non-Executive Chairman since 2015. Mühlhäuser started his career at Arthur D. Little Inc., where he was the Global Head of the Strategy & Organization practice and a Member of the Global Executive Team.

“The Board is delighted at the appointment of Hubertus Mühlhäuser, given the wealth of international experience he will bring to the role combined with his passion for, and experience in, many of the industries in which we operate,” said Suzanne Heywood, Chairman, CNH Industrial N.V..

“My personal thanks and those of the Board go to Derek Neilson, who has been our interim CEO during a challenging period, for his guidance and oversight. Derek will continue in his role of Chief Operating Officer, EMEA Region and President, Commercial Vehicles Products Segment,” stated Heywood.