09.10.2003 FIAT CONFIRM HERBERT DEMEL'S APPOINTMENT AS CEO OF THE AUTO DIVISION
Herbert
Demel has today been appointed Chief Executive Officer of Fiat Auto, effective
November 15, 2003. Fiat thanks Giancarlo Boschetti, who will leave the Group on the same date, for the intense work he performed in almost forty years of activity at top management levels, and expresses its best wishes for his future.
Since the end of 2002, Mr. Demel has been President and Chief Executive Officer of Magna Steyr, a leading company in automotive engineering, two-and four-wheel-drive transmissions and in the development and assembling of automobiles for third parties.
Demel, born in Vienna 50 years ago, has a degree in mechanical engineering and vast professional experience in the automotive sector at an international level.
From 1984 to 1990 he was responsible for the development of ABS applications and quality control at Robert Bosch.
He has spent twelve years of his career with the Volkswagen-Audi Group: from 1990 on he was Head of Product Development at Audi, and from 1994 to 1997 he was Chief Executive Officer of this company.
In 1997 he took over the post of Chief Executive Officer of Volkswagen do Brazil, a position he held until the end of 2002.
Mr. Demel's appointment is part of the Group's strategy to renew its managerial structure by ensuring that the wealth of talent available within the Group be complemented by new professional skills.