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Marchionne Says He Doesn’t Plan to Testify at July Hearing

Sergio Marchionne, Fiat Chrysler Automobiles NV’s chief executive officer, said he doesn’t intend to speak at the hearing the U.S. National Highway Traffic Safety Administration set for July 2, reports Bloomberg Business. “We have a person who is responsible for regulatory compliance,” he said on the sidelines of an event Tuesday evening in Detroit. “He’s ... Read More »

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Fiat Chrysler’s U.S. Unit Redeems Bonds due 2019

The U.S. unit of carmaker Fiat Chrysler Automobiles (FCA)(FCHA.MI) (FCAU.N) has redeemed senior secured notes that mature in 2019 with a total face value of $2.875 billion, a filing with U.S. market regulator SEC showed, reports Reuters. The notes, which carry a coupon of 8 percent, were redeemed at a price equal to their principal ... Read More »

Fiat, Chrysler CEO Sergio Marchionne 'Done' After 2018

Sergio Marchionne, CEO of Fiat SpA and Chrysler Group LLC, plans to step down at the end of 2018 after completing a five-year turnaround plan for the new Fiat Chrysler Automobiles NV, reported The Detroit News. Marchionne, 62, told Bloomberg Businessweek that he will “undoubtedly do something else” after the plan, outlined earlier this year, ... Read More »

Fiat Says Merger into Dutch-Registered FCA Effective October 12

Italian carmaker Fiat said on Tuesday its merger into holding group Fiat Chrysler Automobiles (FCA) would be effective as of Oct. 12 after all conditions for the tie-up were met, reported Reuters. Fiat completed the full buyout of its U.S. unit Chrysler this year and is now incorporating all its businesses under Dutch-registered FCA, paving ... Read More »

Chrysler Recalls 350,000 Vehicles on Ignition Switch Issues

Chrysler Group LLC, a unit of Fiat SpA, said it will recall about 350,000 vehicles from the 2008 model year because of a condition that may cause the ignition key to get stuck or inadvertently move, reported Reuters. In some cases, the ignition switch could upon startup not stop at the “on” position and instead ... Read More »

Fiat May Sell Up To $1.04B In Stock With U.S. Listing

Fiat SpA may sell as much as $1.04 billion in shares to reduce debt and gain local investors after the carmaker formed from merging with Chrysler Group LLC lists stock in the U.S., according to Bloomberg News calculations, reported The Detroit News. The company may have as many as 104.2 million shares available for sale ... Read More »

Fiat Shareholders Came Close to Merger Upset

Fiat SpA shareholders came close to derailing a corporate reorganization on which the creation of the combined Fiat Chrysler Automobiles group depends, according to data the company released Thursday, reported The Wall Street Journal. Investors in the Italian auto maker last week tendered shares worth €464 million ($608 million) as they exercised their right to ... Read More »

Chrysler Names Bigland to Head Alfa Romeo Brand in North America

Chrysler Group LLC said on Monday its head of U.S. sales, Reid Bigland, has been appointed to lead the Alfa Romeo brand for North America, as it prepares for a relaunch aimed at reaching sales of 150,000 in four years, reported Reuters. Bigland, 47, joined Chrysler in 2006 as the head of its Canadian operations, ... Read More »

Chrysler Creates Vehicle Safety Office, Puts Veteran in Charge

Chrysler Group LLC on Tuesday announced the establishment of a new office called “vehicle safety and regulatory compliance” led by a veteran company senior vice president, Scott Kunselman, reported Reuters. The move comes as U.S. automakers are under increased scrutiny over safety issues, and after Chrysler’s cross-town rival, General Motors Co, established a similar office ... Read More »

Fiat Shareholders Approve Reorganization

Fiat SpA shareholders approved a reorganization that opens the way for the Italian car maker that owns Chrysler Group LLC to move its headquarters to the Netherlands, its tax domicile to the U.K. and list its shares in New York, reported The Wall Street Journal. With Friday’s green light from shareholders, Fiat will now merge ... Read More »