John Elkann – Fiat Chairman
Fiat’s new chairman John Elkann said that the company ‘doesn’t need other partners’ beyond Chrysler Group, and that it is focused on turning Chrysler around. “We have a strong relationship with Chrysler and that is what we are actively working on,” said Elkann, 34, the grandson of former Fiat Chairman Giovanni Agnelli.
The company said April 21 that it plans to separate its agricultural and truck-making units into a new body called Fiat industrial, and that it aims to double sales at Fiat Auto by 2014.
Currently, Exor is the largest shareholder in both units, and intends to remain so, unless the dilution of their stakes meant growth. Elkann said that the company would rather be a smaller shareholder in a bigger Fiat than stifle growth by remaining the largest stakeholders.
– By: Stephen Calogera
Source: Automotive News (Subscription Required)