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VOL. 36 | NO. 45 | Friday, November 09, 2012
Fiat Industrial announces new management structure
MILAN (AP) — Fiat Industrial has announced a new management structure aimed at making it easier to merge with its U.S. subsidiary CNH Global N.V., the agriculture equipment maker.
Fiat Industrial said Monday that it has created a 20-seat Group Executive Council, which will be headed by Chairman Sergio Marchionne and CNH CEO Richard Tobin in the new position of group chief operating officer.
The structure, which puts emphasis on brands and geography, is similar to a four-region management structure adopted at carmaker Fiat two years ago to drive integration between Italy's Fiat and the U.S. carmaker Chrysler, which it controls.
The CNH board has rejected the original terms of the full merger, but Marchionne is working to save the deal.
Fiat Industrial owns 88 percent of CNH, based in Illinois.