The Board as a whole has collective responsibility for the strategy of the Company. The Board of Directors is composed of two Executive Directors (i.e., the Chairman of the Company and the Chief Executive Officer), having responsibility for the day-to-day management of the Company, and nine Non-Executive Directors, who have responsibility with respect to the Board’s oversight function.
The Board of Directors of the Company appointed the following internal committees: (i) an Audit Committee, (ii) a Governance and Sustainability Committee, and (iii) a Compensation Committee. In April 2016, the Board of Directors also appointed Mr. Léo W. Houle Senior Non-Executive Director.
On certain key industrial matters the Board of Directors is advised by the Group Executive Council (GEC). The GEC is an operational decision-making body of CNH Industrial which is responsible for reviewing the operating performance of the businesses and making decisions on certain operational matters.