According to a report from Reuters, CNH Industrial may have to extend its timeline on the Iveco, FPT Industrial spin-off it announced last September. During its Markets Day Event on Sept. 3, 2019, CNH Industrial announced its 2020-2024 business plan ‘Transform 2 Win,’ which would include the separation of "On-Highway" and "Off-Highway" assets, where "On-Highway" will include Iveco and FPT Industrial.
This comes from an internal memo obtained by Reuters, sent by CNHI's new acting CEO, Suzanne Heywood, to employees. In it, she references the spin-off plan and says, "While the fundamentals of our...strategy are strong and remain valid, we will also need to be flexible and intelligent in how we adapt to the challenges we face."
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