MILAN (AP) -- Carmaker Fiat SpA is reportedly planning to hire a top executive at Toyota Motor Europe as head of sales at its four-brand automotive group.
Andrea Formica, Toyota's vice president for Europe, would replace Lorenzo Sistino as head of sales for Fiat Group Autos, which includes the Fiat, Alfa Romeo, Lancia and Fiat light commercial vehicle brands, Automotive News has reported, without citing sources.
The move is part of a major management overhaul CEO Sergio Marchionne will announce later this month, the publication says.
A Fiat spokesman declined to comment Tuesday.
Sistino, 48, took the sales job in Jan. 2009. Automotive News said he would stay on at Fiat, but it wasn't clear in what capacity.
Formica worked at Ford of Europe before joining Toyota Europe in 2002.
