CNH ANNOUNCES NEW APPOINTMENTS
LAKE FOREST, Illinois(December 5, 2006) - CNH Global N.V. (NYSE:CNH), a world leader in the agricultural and construction equipment businesses and a majority-owned subsidiary of Fiat S.p.A. (Fia.MI; NYSE:FIA), today announced the appointments of Lorenzo Sistino as President of New Holland agricultural brand, and Georg Richartz, who has been assigned the responsibility for Supply Chain and Logistics of CNH (Case New Holland). Messrs Sistino and Richartz report to the President and CEO, Harold Boyanovsky.
Mr. Sistino takes over from Marco Mazzù who will assume other responsibilities within the Fiat Group, while Mr. Richartz replaces Randal (Randy) Wayne Baker, who had retained - ad interim - his previous Supply Chain and Logistics responsibility when he was named President of the Case IH agricultural brand on September 13, 2006.
Mr. Sistino, born in Turin on May 12, 1962, has been in charge of the Light Commercial Vehicles (LCVs) activities of the Fiat Group automobile division since October 2004 and responsible for worldwide sales of the Fiat brand since June 2005. During his tenure, Fiat LCVs achieved major results including the increasing of market share especially in Europe. Mr. Sistino joined Fiat in 1987 and he was given positions of increasing responsibility in marketing and sales in particular in the Lancia and LCVs brands.
Mr. Richartz, born in Dure, North Rhine, Germany on August 28, 1956, comes to CNH from the Fiat Group automobile division where he was responsible for Supply Chain since 2005. Prior to joining Fiat, Mr. Richartz has had almost 25 years of work experience with Volkswagen Group, covering positions of increasing responsibility in manufacturing, logistics, and purchasing.
"I am delighted to have Lorenzo and Georg assume key roles at CNH," said Harold Boyanovsky. "Their background and expertise will support the further development of our company. I thank Marco for his contribution provided to the company and wish him the best in his future endeavors within the Fiat Group."
"I am pleased to say that we are resolute about achieving our company's targets according to the timetable we have set and confirmed at the Fiat Group analyst and investor conference held in Turin, Italy on November 8-9. Such results, together with leveraging on the full support of the Fiat Group of whose core business Case and New Holland agriculture and construction brands are key members, will allow our company to be a best-in-class industry leader," said Sergio Marchionne, Chairman of the Board of CNH.