The Fiat senior
management revolving door continues as Andrea Formica
has quit the carmaker after almost a year; his
responsibilities had already diminished when Olivier
François replaced him as the head of the Fiat brand in
the most recent management reshuffle last month, now he
departs from his remaining responsibility in charge of
sales.
Formica was lured from Toyota Motor Europe after an
eight year stint with the Japanese carmaker which
culminated in a Vice-President role, last autumn to take
over responsibility for the Fiat brand which was
suffering from a steep decline in sales following the
ending of government supported 'eco' schemes and an
ageing product line-up. Formica's appointment was
regarded as something of a coup at the time for Fiat
with the Italian, reportedly after a long courtship.
Formica who was
previously at Ford Europe in Cologne, was known to be
also keen to return to his native land.
As well as leading the
Fiat brand he took 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).
However Fiat brand sales have continued to decline over
the last year, although this can mostly be put down to a
dated product mix and a chronic lack of investment in
new models as Fiat's management focused on stabilising
the Chrysler Group. The only new model to be launched
during Formica's watch came at this year's Geneva Motor
Show in the shape of the Fiat Freemont, a rebadged
version of Dodge's Journey minivan. Formica can take
little blame for these factors, but the unsuccessful
strategy this year of a range of highly specified models
sold at discounted prices, called "MyLife", can be laid
at his door.
Question marks were raised when Lancia and Chrysler
brand chief François took over Formica's position in
charge of the Fiat brand during July's major
reorganization that saw Fiat and Chrysler Group
top-level management merged into a 22-man "Group
Executive Council of which he wasn't part of.
Formica's resignation from his remaining sales role is
effective from tomorrow (September 1), with Lorenzo
Sistino resuming responsibility for this position.
Sistino was moved out as both Fiat brand and FGA sales
chief to make room for Formica's arrival exactly a year
ago. At the time
Sistino was made head of Fiat's International Operations
while also retaining control of the fortunes of the Fiat
Professional (LCV) division.
Both of these positions he retains for the moment.
