More Turnover at Fiat
Fiat's Kalbfell to Take Over Maserati as Leach Leaves Carmaker
By Mathias Wildt
Feb. 21 (Bloomberg) -- Maserati Chief Executive Officer
Martin Leach will leave the unit of sports-car maker Ferrari SpA
after nine months on the job, the second departure at a Fiat SpA
business since the Italian company and General Motors Corp.
agreed to sever ties.
Karl Heinz Kalbefell will head both the Alfa Romeo brand he
currently leads and Maserati, said Turin, Italy-based Fiat in a
filing with the Italian exchange.
Leach's departure is part of a management shakeup at Fiat,
Italy's largest manufacturer, following General Motors Corp.'s
Feb. 13 agreement to return its 10 percent stake in the Fiat Auto
division to the Italian company. Fiat owns 56 percent of Ferrari.
Fiat Chief Executive Officer Sergio Marchionne is
reorganizing the group's unprofitable car businesses. The company
said on Feb. 16 that it plans to take over Maserati from Ferrari
to increase technical and commercial cooperation between Maserati
and Fiat's Alfa Romeo luxury-car brand.
Marchionne the next day ousted Fiat Auto CEO Herbert Demel
and become head of the car division himself. Both Demel and Leach
were hired by Marchionne's predecessor, Giuseppe Morchio.
Leach, 48, left Ford Motor Co. in August 2003 and was Fiat's
first choice to head Fiat Auto. Ford, the second-largest U.S.
automaker, refused to release Leach from a contract that
prevented him from going to a competitor. Fiat named Demel to
head Fiat Auto in October 2003
By Mathias Wildt
Feb. 21 (Bloomberg) -- Maserati Chief Executive Officer
Martin Leach will leave the unit of sports-car maker Ferrari SpA
after nine months on the job, the second departure at a Fiat SpA
business since the Italian company and General Motors Corp.
agreed to sever ties.
Karl Heinz Kalbefell will head both the Alfa Romeo brand he
currently leads and Maserati, said Turin, Italy-based Fiat in a
filing with the Italian exchange.
Leach's departure is part of a management shakeup at Fiat,
Italy's largest manufacturer, following General Motors Corp.'s
Feb. 13 agreement to return its 10 percent stake in the Fiat Auto
division to the Italian company. Fiat owns 56 percent of Ferrari.
Fiat Chief Executive Officer Sergio Marchionne is
reorganizing the group's unprofitable car businesses. The company
said on Feb. 16 that it plans to take over Maserati from Ferrari
to increase technical and commercial cooperation between Maserati
and Fiat's Alfa Romeo luxury-car brand.
Marchionne the next day ousted Fiat Auto CEO Herbert Demel
and become head of the car division himself. Both Demel and Leach
were hired by Marchionne's predecessor, Giuseppe Morchio.
Leach, 48, left Ford Motor Co. in August 2003 and was Fiat's
first choice to head Fiat Auto. Ford, the second-largest U.S.
automaker, refused to release Leach from a contract that
prevented him from going to a competitor. Fiat named Demel to
head Fiat Auto in October 2003
