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Fiat

December 29, 2014

Large, glossy photographs of yachting in the Mediterranean, sumptuous New York apartments, converted Corsican convents and verdant, elegant Italian gardens, sound like your cup of tea?

The Last Swan

Marella Agnelli and Marella Carraciolo Chia

Germany’s largest family business considering potential of Formula One entry

December 5, 2014

Volkswagen Group, the world's second biggest carmaker and Germany’s largest family business, is mulling an entry into Formula One, sources say.

Volkswagen Group, the world's second biggest carmaker and Germany’s largest family business, is mulling an entry into Formula One, sources say.

Last month its rival, fellow German carmaker Mercedes, took out the championship at the Abu Dhabi Grand Prix, with its drivers Lewis Hamilton and Nico Rosberg taking out first and second place respectively for the season, which runs from March until November.

Marchionne to be replaced by non-family member in Fiat succession

October 9, 2014

A family member will not take the helm of Fiat when existing professional chief executive Sergio Marchionne steps down in four years’ time, fifth-gen chairman John Elkann has told media.

A family member will not take the helm of Fiat when existing professional chief executive Sergio Marchionne steps down in four years’ time, fifth-gen chairman John Elkann has told media.

The Italian family business head says the company will stick to its current arrangement of having a family member as chair, and a non-family member as chief executive.

Bloomberg reported this week that Marchionne would retire in 2018, having been at the helm of the automaker since 2004.

Family business roundup: 21st Century Fox, Fiat, Bestway

July 18, 2014

Murdoch merger rebuffed by Time Warner; Family-owned Fiat denies Volkswagen takeover bid and Bestway buy Co-op pharmacy in multi-million pound deal

Murdoch merger rebuffed by Time Warner

Rupert Murdoch’s 21st Century Fox has had an $80 billion (€59.1 billion) merger deal rejected by US rival Time Warner.

When familial ties force a young next-gen into leadership

July 17, 2014

A fresh-faced CEO straight out of business school isn't always the person to inspire public and investor confidence, but circumstances sometimes force a young candidate into the top spot at a family firm.

Picking a chief executive for any family business is a tough task. It is especially problematic if the company is bent on keeping a family member in the top job. This was the conundrum Gianni Agnelli faced when trying to prepare an heir to take the wheel of his family’s iconic Italian car brand Fiat. Drug addiction in his only son and then stomach cancer in his nephew saw his pool of potential successors whittled down to his 21-year-old grandson John Elkann.

Fiat’s Italian family business image damaged as it turns global

February 24, 2014

Fifth-generation family business Fiat is losing its image as an Italian company, according to an Italian business expert, as it expands globally and moves its tax affairs and company registration to other European countries.

Founded by Giovanni Agnelli in 1899, the company is now headed by fifth-gen John Elkann, who confirmed this month that the carmaker was moving its tax domicile to the UK and registering its business in the Netherlands.

Fiat signs Chrysler purchase agreement

January 2, 2014

Italian family business Fiat has welcomed in the New Year by signing an agreement to purchase the remaining stake it does not already own in US carmaker Chrysler.

Italian family business Fiat has welcomed in the New Year by signing an agreement to purchase the remaining stake it does not already own in US carmaker Chrysler.

The $3.65 billion (€2.67 billion) agreement ends a stand off between Fiat, which is owned by family-controlled holding company Exor, and a retiree healthcare trust over the value of the company.

Veba, associated with the United Auto Workers union, argued its 41.5% stake was worth $5 billion, while Fiat said it was worth half that amount.

Fiat delays Chrysler IPO

November 27, 2013

Uncertainty about whether Italian family business Fiat will buyout the remaining stake in US carmaker Chrysler looks set to remain into the new year, with the company announcing a planned partial listing will not happen before the end of the year.

Fiat Capitalism

November 6, 2013

John Elkann heads one of the world’s biggest conglomerates. But he wants to be more than just another boss of a big multinational. He wants to change the world. CampdenFB reports.

John Elkann is on a mission. The fifth-generation owner and manager of one of the biggest industrial groups in the world wants capitalism to change. With his boyish face, soft voice, reserved – even diffident – style he might make an unlikely evangelist, but he is deadly serious.

Lapo Elkann considers foundation for abuse victims

October 21, 2013

Lapo Elkann, a next-gen of the Agnelli family, has said he is considering opening a foundation for victims of sexual abuse, having revealed to Italian media he was himself abused as a teenager at boarding school.

Elkann, 36 – brother to John Elkann, chairman of multi-billion euro family-controlled holding company Exor – made the comments in an interview with Italian daily Fatto Quotidiano, though he did not name his abusers.