FIAT SpA Announces Management Restructuring Plan

FIAT S.p.A. has announced the formation of a Group Executive Council (GEC) with the objective of enhancing the operational integration of FIAT S.p.A. and Chrysler Group.
The GEC comes into effect on September 1st 2011 and will be responsible for reviewing the operating performance of the businesses, setting performance targets, making key strategic and investment decisions for the Group and sharing best practices, including the development and deployment of key human resources.

The GEC will have four main groupings. The first is responsible for manufacturing; sales; parts and service; automotive components and systems and castings. The second grouping is responsible for developing FIAT S.p.A.'s brand portfolio in each of the Group's operating regions. The third grouping is composed of industrial process leaders who will be responsible for consistency and standards across the operating regions, as well as optimising the capital allocation choices the Group will face in the coming years. The fourth and final grouping is responsible for support and corporate functions*.

Each grouping will be the responsibility of a Chief Operating Officer (COO) who will drive the organisation via a regional Management Team. (The details of these teams will be announced at a later date.) The COOs are accountable for the Profit and Loss of their region/business and the management of regional resources, including manufacturing and commercial activities.

According to Sergio Marchionne, Chief Executive of FIAT and Chrysler:
"We have now reached the right moment to step on the accelerator of the FIAT-Chrysler integration. These appointments are the result of an extensive process of evaluation of the technical and leadership skills of the individuals who have been appointed to the GEC. But equally important is the fact that they reflect the multicultural, geographically-diverse nature of our businesses. We recognise in these leaders the future of FIAT-Chrysler as an efficient, multi-national competitor in a global automotive marketplace. It is a privilege for me to have the opportunity to lead this group of people and see them grow, to watch them as they transform challenge into success and into faith in themselves and what they can achieve."