Luca di Montezemolo to replace Paolo Fresco as Fiat Chairman

["Ryan Fellini" <rfellini@domain.elided>]

some more hot news.

Possibly having Luca as FIAT boss... this is exactly what they need for a
good kick in the ar*e.  If he can do what he's done for Ferrari, their F1
team, and Maserati... wow.  I can imagine the people at Lancia and
Alfa must be feeling a bit brighter already.

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15th November 2002:  Luca di Montezemolo to replace Paolo Fresco as Fiat 
Chairman
  It is believed that Ferrari-Maserati Group boss, Luca di Montezemolo, is in 
discussions to replace Paolo Fresco as Chairman of Fiat Spa. The move, expected 
to be favourably received by both the markets and creditors, currently hinges on 
how he will work with new CEO Galateri di Genoa, who replaced Paolo Cantarella 
during the summer. 
Luca di Montezemolo, 54, has spent the last 11 years as Chairman of Ferrari, 
overseeing the marques revival and taking them back to the top in Formula 1. In the 
last few years, Maserati has been added to Ferrari's operations and a successful 
relaunch has been carried out. Montezemolo is a career Fiat employee, he began at 
Ferrari in 1973 as team manager. He went on to lead Fiat's public relations division 
before heading up the groups publishing arm. He left to lead Italy's first America's 
Cup bid before going to organise Italy's 1990 Football World Cup. 

He returned as boss of Ferrari in 1991, remaining in the post since then. Regarded 
as a protege of Gianni Agnelli, he is close to Italian Prime Minister Silvio Berlusconi, 
and was offered the post of Foreign Minister last year, an offer he turned down. 

Paolo Fresco has been Chairman of Fiat Spa for the last four years and has not 
been able to shake off involvement in the group's disasterous recent performance. 
The move would also put pressure on Fiat Auto boss Giancarlo Boschetti. His 
restructuring plan has generally been well received, but his leadership 
performances have been characterised as weak and ineffecitve and he has 
struggled to impose a clear leadership.
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