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Industry: Email Alert RSS FeedWhy Morchio walked away.(News)(Giuseppe Morchio)(Brief Article)
Automotive News Europe, June, 2004 by Ciferri, Luca
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Byline: Luca Ciferri
Shortly after Umberto Agnelli died, Giuseppe Morchio renewed his request to become chairman as well as CEO of Fiat group.
Morchio had made a similar demand in January, but this was shelved because of Chairman Umberto Agnelli's worsening health.
The request went against Fiat internal rules and against modern corporate-governance guidelines that call for separate chairman and CEO roles. The Agnelli family and Fiat's creditor banks again refused.
The Agnellis also denied Morchio's request for equity in IFI, the family holding that controls Fiat.
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