Fiat changes to effect Ferrari?

Fiat has long been Italy’s predominant industrial business and the Agnelli Family have ruled the roost. In recent years the company has been run by chief executive officer Sergio Marchionne, who has this week won the approval of the shareholders to split Fiat’s industrial businesses away from the car manufacturing units. The plan is for Fiat to combine the car brands, notably Fiat, Alfa Romeo, Lancia, Maserati and Ferrari, while a new company called Fiat Industrials will be created as a separate entity to manufacture Iveco trucks and various other brands of farming and construction equipment. Fiat Industrial will list on the Milan stock exchange next year and will be independent of Fiat, with its own management board. The company chairman is now John Elkann, who is believed to be in favor of the move, which will help Fiat to complete its merger with Chrysler. Quite how all of this impacts on Ferrari remains to be seen, but in reality the company is self-sufficient. Joe Saward