Fiat, the Italian auto manufacturers have announced the appointment of Alfredo Altavilla as the company’s new Chief Operating Officer. Altavilla will take over from Gianni Coda who is retiring after 33 years of dedicated service with various businesses within Fiat and Fiat Industrial. Altavilla will be in charge of Fiat in Europe, Middle East and Africa regions (EMEA), which are considered to be loss making operations as on date.
Altavilla which is currently Chief Executive at Fiat Industrial Iveco, will be in charge of stepping up production of Alfa and Maserati as well as the company’s Jeep models. Altavilla is closely associated with Sergio Marchionne, CEO of Fiat and has played a major role during the 2009 pact with US government which gave Fiat controlling interest over Chrysler.
Fiat is in a spot in European markets where sales are dismal and the company has even had to cut its performance targets due to difficult economic situation across European markets. Chrysler on the other hand is doing exceedingly well, and is said to be a major cash earner for the company.