Fiat S.p.A. (an acronym for Fabbrica Italiana Automobili Torino (Italian Automobile Factory of Turin) is an Italian automobile manufacturer, engine manufacturer, financial and industrial group based in Turin in Northern Italy. Founded in 1899 by a group of investors including Giovanni Agnelli. Fiat has also manufactured tanks and aircraft.
Fiat based cars are constructed all around the world?the largest concern outside Italy is in Brazil (best seller). It also has factories in Argentina and Poland. Fiat has a long history of licensing its products to other countries regardless of local political or cultural persuasion. Joint venture operations are found in France, Turkey, Egypt (with the state owned Nasr car company), South Africa, India and China.
Agnelli’s grandson Gianni Agnelli was Fiat chairman from 1966 until his death on January 24, 2003. However, from 1996, he only served as an “honorary” chairman, while the chairman was Cesare Romiti. After their removal, Paolo Fresco served as chairman and Paolo Cantarella as CEO. Umberto Agnelli then took over as chairman from 2002 to 2004. After Umberto Agnelli’s death on May 28, 2004, Luca Cordero di Montezemolo was named chairman, but Agnelli heir John Elkann became vice chairman at age 28 and other family members are on the board. At this point, CEO Giuseppe Morchio immediately offered his resignation. Sergio Marchionne was named to replace him on June 1, 2004.
Public (BIT: F)
July 11, 1899 in Turin, Italy
Sergio Marchionne (CEO)
Luca Cordero di Montezemolo (Chairman)
John Elkann (Vice Chairman)
Automotive, publishing, finance and metallurgy
Autos, Trucks, vehicular equipment and financial services
? ?58.529 billion (2007)
? ?2.054 billion (2007)
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Agricoltural and construction equipment:
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Components and production systems:
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