Letter from the Chairman

Dear stakeholders,

In 2013 our Company marked another historic milestone with the merger of Fiat Industrial and CNH to form CNH Industrial, a global leader in the capital goods sector.

That transaction represented the completion of a long process of simplification initiated around 3 years ago and a step fundamental to the future growth, autonomy and efficiency of the Company.

It marked the beginning of a new era.

The merger has unlocked the potential that comes from operating as a fully-integrated multinational, capable of competing at the very highest level and appealing to a broad base of international investors.

CNH Industrial now has the flexibility to pursue the most advantageous strategic options and to capitalize on opportunities for growth and consolidation consistent with its ambitions as a leader in the sector.

Our Company has a well-defined course ahead and it will continue to pursue its mission with responsibility and integrity, guided by the principles of sustainable development.

Climate change and food insecurity are just two of the challenges that the global community has to address in the near future and CNH Industrial is committed to making its contribution through a targeted offer of advanced products and solutions and environmentally-responsible operating practices.

Over the years, our research activities have been geared toward ensuring our products continue to achieve ever higher standards in terms of safety and eco-compatibility. Now that we have succeeded in reducing polluting emissions of our products, we are concentrating on further improvements in energy and fuel efficiency.

Rather than limiting customers to a choice between low operating costs or eco-efficiency, our strategy is to offer products that deliver both.

Scarcity of food resources is another issue that those who, like us, work in close contact with farmers in every region of the world are very well aware of. We have developed machines and equipment that help maximize crop yields and achieve more abundant harvests.

The decision to be an official partner of Expo Milano 2015 is consistent with our Clean Energy Leader strategy, which is an important element in our commitment to the global environment, as well as local communities and eco-systems. CNH Industrial will also participate as an exhibitor at the Expo – whose theme is “Feeding the Planet, Energy for Life” – where we will present concepts for sustainable farming that combine solutions for efficient production with the rational and sustainable use of resources.

Remanufacturing is another area where CNH Industrial is very active. The recovery and regeneration of components extends product life and sets in motion a virtuous circle that helps contain the extraction and use of raw materials, reduce waste and, at the same time, offer customers quality spare parts at competitive prices.

Our commitment is to significantly increase the quantity and range of remanufactured parts available to customers in all regions.

In the same way that we operate our plants with respect for the local ecology, we also participate actively in the development of local communities. For example, CNH Industrial provides vehicles and know-how to vocational schools, to help young people, particularly in disadvantaged areas, prepare for future employment as mechanics. By making those tools available, we are contributing to the creation of a virtuous circle that also involves the dealer network.

The Company also continued initiatives to transfer its culture of safety to those outside the organization which range from training on the safe use of our products to campaigns on road safety.

Although 2013 marked the beginning of a new era for our Company, it was also a year of continuity in several key areas.

Our proven track record in the sustainable management of our activities at all levels was once again recognized with CNH Industrial’s inclusion in the most prestigious sustainability indexes, which admit only those companies judged best-in-class in the sustainable management of their businesses.

All these results are attributable to robust innovation and development processes, as well as major reductions in the environmental impact of our manufacturing and logistics processes.

However, I believe that the greatest merit goes to everyone in the Company for embracing the culture of sustainability and translating it day by day into concrete action. We are extremely proud of their contribution.


 Sergio Marchionne

Sergio Marchionne

Chairman of CNH Industrial