"We will soon announce our intention to have a single leadership at the helm of both Fiat and Chrysler," said the CEO of Lingotto, Sergio Marchionne, on the sidelines of a conference at the Italian-Swiss Chamber of Commerce in Zurich. However, no statement has been made regarding the timing and modalities of a possible merger of the two companies. However, it is true that the two groups can now be considered a single entity if one thinks that the second quarterly report (July 26) will concern the consolidated accounts.
The new governance will be implemented in a very short time: the official announcement will probably come with the board scheduled for July 25 in Brazil. In essence, under Marchionne's leadership the command and control functions of Fiat and the Detroit group will be unified: a pyramid made up of 25 people compared to 50 today.
As for a possible increase in Fiat's stake in Chrysler, which now owns 52%, Marchionne added that "there are no talks between Fiat and the Veba fund" for the 41,5% stake that the US union has in the house American.
A few days ago John Elkann and Sergio Marchionne, in a meeting with the mayor of Turin Piero Fassino, confirmed their desire to maintain a strategic presence of Fiat in Piedmont.
In the meantime, Fiom could launch a new lawsuit against other workers. The national secretary of Fiom, Giorgio Airaudo declared: “We are evaluating a lawsuit against the electoral commission of the former Bertone. They made a mocking decision by refusing to call new elections before the last day, at the end of the year.” But for now the first appointment remains the hearing of July 16 for the anti-Pomigliano case.
The first estimates by analysts on the consolidated accounts of Fiat and Chrysler forecast a 41% growth in revenues to approximately 14 billion and a trading profit of 570 million to which the US company would have contributed approximately 200 million in the month of June alone.
