Odong Inchisa was appointed CNH Industrial's Chief Financial Officer in March 2020 after seven years leading the company's Financial Services division. In 2021, CNH cemented its expansion under the leadership of new CEO Scott Wine, strengthened by the $2.1 billion acquisition of Raven. At the beginning of 2022, CNH embarked on a business demerger, separating Iveco's truck and engine business and focusing on the agriculture and construction sectors. In late 2023, CNH exited the Italian stock market, exiting the dual listing structure and opting for a sole listing on the NYSE. Mr Inchisa spoke to Global Finance.
Global Finance: What has kept you busy during your four years as CFO at CNH?
Odddon Inchisa: During the early months of the coronavirus pandemic, our main priority was to maintain operations. As we adapted to our new position, our attention shifted to managing supply chain constraints and ensuring our factories had sufficient resources to meet growing customer demand. My role now includes much more, with a focus on analyzing the long-term evolution of both demand and our products.
GF: And what's been keeping you busy lately?
Inchisa: We are currently reviewing our cost basis, which will result in some difficult decisions being made. It's important to transparently communicate the reasons behind these actions to your team and address them rationally. Cost reductions must be executed with precision. This requires avoiding cuts in areas critical to future growth, as this could harm long-term prospects.
GF: What keeps you up at night?
Inchisa: I'm always thinking about the growth of the company. How to drive growth and how to make sure your team is ready to support and facilitate this growth.
GF: How important is it to you to have a top team? What are you doing to get it?
Inchisa: It's about selecting the right people for the right roles, rotating and training junior staff into different positions. But there is also succession planning. I have several people who join me in my work as needed. Of course, no two people are exactly the same, and no one wants to work with a copy of themselves. However, I believe that multiple people can effectively intervene and take my place. we have great talent.
GF: What advice would you give to young professionals interested in becoming a CFO?
Inchisa: I encourage you to immerse yourself in different aspects of finance. You will be able to deeply understand essential details and understand the impact of your actions. Accounting and finance experience is important, as is FP&A (data and analytics) and management knowledge. Additionally, I believe that job rotation in the finance field is extremely valuable for building a broader skill set and growing professionally.
GF: As a European working for a multinational company with a strong presence in the United States, you have likely experienced first-hand the differences in perceptions of environmental, social, and governance factors between the two continents. Can you share some insight into this contrast?
Inchisa: As ESG becomes a divisive topic, companies must strike a delicate balance considering the diverse range of customers and stakeholders they serve. Our primary focus should be on aligning shareholder interests with stakeholder objectives. Fostering a corporate culture that embraces good governance, diversity and inclusion, and environmental and social responsibility is paramount. It is important to keep in mind the impact of our actions on society. We are recognized as an industry leader in ESG initiatives. We do not make decisions based solely on his ESG drivers, but we do seek to align ESG drivers with the company's goals.
