Almost
two weeks after he quit the top job at Toyota Europe,
Italian auto industry veteran Andrea Formica has been
confirmed as the new Fiat Automobiles' CEO replacing
incumbent Lorenzo Sistino who remains with Fiat Group
and becomes the head of international operations.
Formica will also take over responsibility for the sales
operations of the three key Fiat Group Automobiles'
(FGA) units, Fiat, Alfa Romeo and Lancia, as well as the
three Chrysler Group brands (on the European markets).
Sistino will retain his responsibility for Fiat's light
commercial vehicle division, Fiat Professional, but his
new post can be seen as a major demotion and either he
has a new position in the pipeline or is being gradually
pushed out.
"Andrea Formica,
manager with a wealth of experience in the Automotive
industry in Italy and abroad gained at Ford and Toyota,
has been named head of the Fiat brand at Fiat Group
Automobiles," read a statement confirming his
appointment, issued by the Fiat Group in Turin.
"He replaces Lorenzo
Sistino who
will head International Operations, keeping his current
responsibility for the Fiat Professional brand," the
press release went on to say, adding: "Sistino will have the task of
developing the business in the emerging markets (e.g.,
China, India, Russia), where Fiat Group Automobiles is
expanding its presence to achieve a leading position.
Formica will
also head the commercial function, with responsibility
for the sales operations of the Fiat, Alfa Romeo and
Lancia brands and – in Europe – Chrysler Group LLC’s
brands."
Formica resigned from
his Senior Vice-President's position at Toyota
two weeks ago tomorrow. The Italian started his career with Ford
Italia before eventually being promoted to the U.S.
carmaker's European headquarters in Cologne. After five
years with Ford Europe, in 2002, he moved to Toyota
where he has been for the last eight years. Luring
Formica to FGA is regarded as a major coup and it has
been reported that he was to return to his native Italy
after holding positions in Cologne and Brussels.
