John Elkann, chairman of Fiat SpA, said at a briefing at the North American International Auto Show in Detroit that Sergio Marchionne will remain the company’s CEO,
Bloomberg reported.
Marchionne will be responsible for carrying out Fiat’s business plan as the Italian automaker takes full control of Chrysler Group LLC. Fiat owns 58.5% of Chrysler and has agreed to buy the remaining 41.5% from a United Auto Workers retiree health care trust for $4.35 billion.
The Fiat board will meet on Jan. 29 to discuss terms for the merger, including where the new entity will be based. The name of the combined company will include Fiat and Chrysler, the article said. (Source: Bloomberg, Jan. 13, 2014.)
-
855 reads