Automotive Industry

Why Testore was forced out at Fiat ; Faced with angry shareholders, suppliers and dealers, Fiat Auto's managing director had no choice but to resign.

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A revolt by angry dealers and suppliers led to the surprise resignation of Fiat Auto chief Roberto Testore.

The final blow may have been signs that the new Stilo - on which Fiat is counting heavily - is missing sales targets.

Shareholders were upset by the fact that Testore's long-promised financial turnaround was delayed once again.

Testore, 49, will be replaced on January 1 by Giancarlo Boschetti, 62, head of Fiat's Iveco truck and bus unit since 1990.

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Along with Testore's resignation, Fiat announced a major reorganization of its automotive division, carving the ...