Fiat SpA appointed Alfredo Altavilla, a close adviser to chief executive officer Sergio Marchionne on the deal to take control of Chrysler Group LLC, to turn around its unprofitable European business.
Altavilla gave up his position as head of Fiat Industrial Spa’s Iveco truck unit to replace Gianni Coda as chief operating officer of Europe, Middle East and Africa “effective immediately,” the Turin, Italy-based company said in a statement. Coda retired after 33 years at Fiat.
The management change follows Marchionne’s new plan to revive Fiat’s European business, which the company expects to lose 700 million euros ($891 million) this year. The downturn in its home region prompted Fiat to cut its 2014 profit goal by 31 per cent to 5.2 billion euros. The turnaround focuses on boosting production at underused Italian factories by introducing 19 new models through 2016, including a compact Jeep model, nine Alfa Romeo cars and six Maserati vehicles.
Altavilla’s departure from Iveco came as Fiat Industrial announced a new organizational structure as part of its preparations for a merger with tractor unit CNH Global NV. Richard Tobin, CEO of Amsterdam-based CNH, was appointed chief operating officer for the group. Andreas Klauser will represent Iveco on Fiat Industrial’s new group executive committee.
Altavilla, who is also head of business development for Fiat and Chrysler, joined Fiat in 1990 to manage product development, international ventures and strategic planning. He was named head of Iveco truck unit in 2010 to carry out the spinoff of Fiat Industrial SpA from the carmaker.
Altavilla, 49, whose father owned a dealership selling cars from Fiat’s Lancia brand, was closely involved in the negotiations to gain control of Chrysler in 2009.
Everything you need to know about purchasing, maintaining and driving your car.
Become a member
Register now to access all features including:
- Save and ask friends to review vehicles
- Exclusive rebates & offers from local dealers
- Premium content, reviews and tools
All for free!
Already a member?
Registration 2 of 2
Welcome to Wheels!
As a final step we've sent a confirmation to your email address as a security measure. Please click the link in the email to complete your registration.
Terms of services
DISCLAIMER OF WARRANTIES AND LIMITATION OF LIABILITY
TO THE FULLEST EXTENT PERMITTED BY LAW, TORONTO STAR IS PROVIDING THE TORONTO STAR WEBSITES ON AN "AS IS" AND â€œAS AVAILABLEâ€ BASIS AND MAKES NO WARRANTIES OR REPRESENTATIONS, EXPRESS OR IMPLIED, INCLUDING WITHOUT LIMITATION THE IMPLIED WARRANTIES OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE, IN ANY CONNECTION WITH THE TORONTO STAR WEBSITES, THEIR CONTENTS, OR ANY WEB SITE OR CONTENTS WITH WHICH IT IS LINKED. TORONTO STAR DOES NOT WARRANT THAT THE FUNCTION OF THE TORONTO STAR WEBSITES OR THEIR CONTENTS WILL BE UNINTERRUPTED OR ERROR FREE, THAT DEFECTS WILL BE CORRECTED, OR THAT THE TORONTO STAR WEBSITES OR THE SERVERS THAT MAKE IT AVAILABLE ARE FREE OF VIRUSES OR OTHER HARMFUL COMPONENTS.
TO THE FULLEST EXTENT PERMITTED BY LAW, UNDER NO CIRCUMSTANCES, INCLUDING, BUT NOT LIMITED TO, NEGLIGENCE, SHALL TORONTO STAR BE LIABLE FOR ANY LOSS OF USE, LOSS OF DATA, LOSS OF INCOME OR PROFIT, LOSS OF OR DAMAGE TO PROPERTY, OR FOR ANY DAMAGES OF ANY KIND OR CHARACTER (INCLUDING WITHOUT LIMITATION ANY COMPENSATORY, INCIDENTAL, DIRECT, INDIRECT, SPECIAL, PUNITIVE, OR CONSEQUENTIAL DAMAGES), EVEN IF TORONTO STAR HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES OR LOSSES, ARISING OUT OF OR IN CONNECTION WITH THE USE OF THE TORONTO STAR WEBSITES, THEIR CONTENTS, OR ANY WEBSITE OR CONTENTS WITH WHICH IT IS LINKED. IN NO EVENT SHALL TORONTO STARâ€™S TOTAL LIABILITY FOR ALL DAMAGES, LOSSES, AND CAUSES OF ACTION, WHETHER IN CONTRACT, TORT (INCLUDING, BUT NOT LIMITED TO, NEGLIGENCE), OR OTHERWISE, EXCEED THE AMOUNT PAID BY YOU FOR ACCESSING THIS SITE.X