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NINETY EIGHT REGENCY

FIAT DIVISION RAIDS TOYOTA FOR NEW CEO

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FIAT DIVISION RAIDS TOYOTA FOR NEW CEO

By Andrew Ganz

Fiat's namesake car-building division has named a new chief executive: Andrea Formica. The former Toyota of Europe executive will be in charge of Fiat's global automotive activities, including overseeing sales of Chrysler vehicles in Europe.

Formica's responsibilities will focus on all three of Fiat's primary car brands - Fiat, Lancia and Alfa Romeo - and he will help re-integrate Chrysler products into Lancia's lineup in Europe.

The 49-year-old Formica was previously Toyota of Europe's vice president in charge of sales, marketing, product planning and communication.

Formica replaces Lorenzo Sistino, who, in typical Fiat style, will continue to wear more than one hat. Sistino will now oversee Fiat's sales in emerging markets and he'll continue to be in charge of Fiat Professional's commercial truck and tractor activities. Last week, Fiat confirmed its plans to separate Fiat's car-building and commercial vehicle divisions.

Fiat SpA CEO Sergio Marchionne's brand CEOs are traditionally responsible for more than one brad.

link:

http://www.leftlanenews.com/fiat-division-raids-toyota-for-new-ceo.html

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