Fiat Gets A New CEO, Sergio Marchionne To Stick Around

Fiat’s got a new boss, but fans of black sweaters shouldn’t fret; Sergio Marchionne, the man who lives by the phrase “business casual”, will still retain control of the Fiat/Chrysler monolith.

Lest we forget that Fiat itself is also a car brand, and somebody needs to oversee the Fiat car lineup. For that job, Andrea Formica (center) has been named as the CEO of Fiat cars. After doing stints at Toyota and Ford, Formica has been given the job, along with having to manage sales for Fiat, Alfa Romeo, Lancia and Chrysler’s European division. Formica’s predecessor, Lorenzo Sistino, has been moved to head up Fiat’s International Operations.

Hit the jump to read the official press release

[Source: Fiat]

Andrea Formica new head of Fiat brand and Commercial. Lorenzo Sistino to head International Operations.

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. He replaces Lorenzo Sistino who will head International Operations, keeping his current responsibility for the Fiat Professional brand.

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.

Turin, 17 September 2010