Iveco Group N.V. (MI: IVG) today announces that Francesco Tanzi, having contributed importantly to the Company's successful spin-off and first year of independence in his role as Chief Financial Officer, will be taking up a new position in another industry sector by the end of the third quarter of this year.

The search process to identify Mr. Tanzi's successor is already under way, with a view to making an appointment by the end of this transitional period.

Gerrit Marx, CEO, Iveco Group, said: “I want to thank Francesco for all his contributions since the creation of the independent Iveco Group, during which time we have established strong momentum in the execution of our plans for the future.”