Fiat Chrysler Moving Headquarters to London
Fiat has always been based in Italy while Chrysler is purely American, but the newly minted Fiat Chrysler Automobiles plans to setup its headquarters in London.
“Headquarters will be in London,” CEO Sergio Marchionne told journalists during at a press conference at Chrysler’s headquarters. “It’s clear that group executive functions, the board, my office, some of my functions, need to operate out of London, but that doesn’t mean that I’m giving up my operational responsibilities of the U.S. We will be multi-faceted … we will do stuff everywhere.”
This past January, Fiat sealed the $4.35 billion deal to take over Chrysler. Marchionne says that the primary listing for Fiat Chrysler will be in New York, with a secondary listing in Milan. The holding group will be registered in the Netherlands while its tax domicile is in Britain.
London was chosen in part because it is centrally located between all of Chrysler’s worldwide operations. “If you put it in Detroit, you make Fiat people feel bad and if it’s in Turin, you make Chrysler people feel bad,” said Marchionne.
[Source: Automotive News]
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Stephen covers all of the day-to-day events of the industry as the News Editor at AutoGuide, along with being the AG truck expert. His truck knowledge comes from working long days on the woodlot with pickups and driving straight trucks professionally. When not at his desk, Steve can be found playing his bass or riding his snowmobile or Sea-Doo. Find Stephen on <A title="@Selmer07 on Twitter" href="http://www.twitter.com/selmer07">Twitter</A> and <A title="Stephen on Google+" href="http://plus.google.com/117833131531784822251?rel=author">Google+</A>
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