By Connor Hart
Jim Nickolas will resign as chief financial officer of Martin Marietta Materials, effective Friday, ahead of assuming the top finance role at CNH Industrial next month.
Nikolas, who is 54, will succeed Oddone Incisa as CFO of CNH Industrial, effective May 6. Incisa is stepping down to pursue a new opportunity outside of the organization, the equipment, technology and services company said Thursday.
In the role, Nikolas will receive an annual base salary of $825,000. He will also be eligible to receive an annual cash bonus equal to 100% of his base salary, as well as additional stock-based compensation awards and benefits, according to a filing with the Securities and Exchange Commission.
Both Incisa and Nickolas will work collaboratively through April to ensure a smooth transition, CNH said.
Martin Marietta said Nikolas's decision to step down from the company stemmed from his desire to relocate his family to their hometown of Chicago.
The construction materials supplier appointed Robert Cardin, who is 61 and currently serves as the company's controller and chief accounting officer, to serve as interim CFO. He will hold the position will the company searches for a permanent replacement, it said, adding it has initiated a search process of both internal and external candidates with assistance from an executive search firm.
Write to Connor Hart at connor.hart@wsj.com
(END) Dow Jones Newswires
April 10, 2025 17:24 ET (21:24 GMT)
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