TURIN, Italy (AP) - Fiat SpA Chief Executive Sergio Marchionne announced Thursday that he will step down as the leader of the company's automaking unit next year. His successor will come from within the company.
Marchionne has engineered Fiat's turnaround since taking over the failing industrial group on June 1, 2004, and assuming the helm of the core auto division on Feb. 17, 2005. ''I think there is sufficient talent on this podium and in this organization. I wouldn't hire on the outside,'' Marchionne told analysts at a presentation of the group's business plan for 2007-2010.Fiat CEO Stepping Down As Auto Unit Boss
Fiat SpA Chief Executive Sergio Marchionne said Thursday he will step down as the leader of the company's automaking unit next year. His successor will come from within the company.
Nov 8, 2006