HomeEquities ScoreWhy CNH Industrial N.V. (CNHI) stock had a good Thursday?

Why CNH Industrial N.V. (CNHI) stock had a good Thursday?

CNH Industrial N.V. (CNHI) shares remain unchanged in the after-markets session on Thursday, December 23, 2021, and closed the weekly trading at $18.89. However, in the regular trading session of Thursday, CNHI’s stock gained 2.66%. CNHI shares have risen 47.46% over the last 12 months, and they have moved up 5.53% in the past week. Over the past three months, the stock has gained 10.53%, while over the past six months, it has soared 13.52%.

Let’s have a brief look at its recent news and developments.


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CNHI & Iveco merger termination

On December 23, 2021, CNH Industrial N.V. (CNHI) shareholders meeting was held in which that its shareholders approved the demerger of Iveco Group business from CNH Industrial. This proposal was approved by an overwhelming majority, with more than 99% of the votes cast in favor of the transaction.

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CNH Industrial expects to complete the demerger on December 31, with the effective date on January 1, 2022.

CNHI new board members

Also, in today’s shareholder’s meeting of CNH Industrial, the appointment of two new non-executive directors, Ms. Catia Bastioli and Ms. Åsa Tamsons were approved. The new directors will replace Mr. Tufan Erginbilgic and Mr. Lorenzo Simonelli who will join Iveco Group N.V. board of directors upon consummation of the demerger.

CNHI & Plus trucking pilot project in Europe and China

On December 20, 2021, IVECO, the commercial vehicles brand of CNH Industrial (CNHI), joined Plus as their European partner for the launch of a pilot in Europe and China, to begin the validation and integration of Plus’s autonomous trucking technology with IVECO’s latest-generation S-WAY heavy-duty truck.

The trial will test and demonstrate the performance of Plus’s integrated system in the IVECO S-WAY across a wide range of environments and driving conditions, using both the driver-in (i.e., with driver on board) PlusDrive solution and Level 4 autonomous driving technology.

CNHI new appointment

On December 21, 2021, CNH Industrial (CNHI) announced the appointment of Alessandra Ramorino as Chief Internal Audit Officer, effective April 1st, 2022. She will be replacing Federico Castino who is currently serving as interim Head of Internal Audit. she will be reporting to the designated CEO Gerrit Marx and she will discharge her duties under the supervision of the Audit Committee of Iveco Group.

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Conclusion

The recent decisions at the stockholder’s meeting were the reason behind its Thursday performance. The demerger is a major development and we will see its aftereffects in coming trading sessions after the long weekend.

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