11.10.2010 ALTAVILLA APPOINTED IVECO CEO AND MOVES INTO POSITION TO HEAD FIAT INDUSTRIAL

ALFREDO ALTAVILLA

Alfredo Altavilla is to be appointed CEO of Iveco replacing Paolo Monferino a position that puts him right into pole position to take charge of the new Fiat Industrial entity which will be formed when the Fiat Group is split up.

Alfredo Altavilla is to be appointed CEO of Iveco, replacing Paolo Monferino who will be leaving Fiat Group to take up the role of Director of Health for the Region of Piedmont, a position that puts Altavilla into pole position to take overall charge of the new Fiat Industrial entity once the Italian conglomerate is split up.

It had long been reported that Monferino was set to leave the Fiat Group after spending the last five years as CEO of the Group's trucks-to-buses division, Iveco. Before that appointment, Monferino, who has been with the Fiat Group for almost four decades after initially joining as an engineer, was the CEO of the Italian company's agricultural-and-construction-equipment division, CNH Global.

Altavilla is one of Marchionne's most trusted lieutenants and is currently the CEO of Fiat Powertrain Technologies as well as the Fiat Group's Executive Vice-President for Business Development, and, most recently, a member of the Chrysler Group board. He is also a former CEO of the Turkish joint venture company, Tofas, and was once the boss of Fiat's Chinese operations. In recent years Altavilla has been working hand-in-hand with Marchionne in striking major deals and alliances across the world and this new appointment puts him in prime position to run Fiat Industrial following the Group's splitting up. Marchionne has previously indicated that Fiat Industrial will be run by the CEO's of Iveco and CNH. With Altavilla also reported to be retaining his position as the boss of Fiat Powertrain (FPT) he will thus be in charge of two of the three core assets of Fiat Industrial as FPT's industrial and marine activities will be separated and spun into the new company.

Sergio Marchionne, CEO of Fiat, made the following comment: "I would like to thank Paolo Monferino, both personally and on behalf of the Group, for his outstanding service to Fiat over the years. In the various roles covered, he always distinguished himself for his dedication, rigor and astuteness. These qualities were behind such major accomplishments as the integration of Case and New Holland and the return of Iveco to the highest level of competitiveness in the truck and commercial vehicles sector.

"I am disappointed that he is leaving the Fiat Group, but I am pleased to know the public health system will profit from his experience, his capability to plan and manage, in addition to his great human qualities, to the benefit of the community as a whole," continued Marchionne. "In addition to congratulating Paolo on his new appointment, I wish him the very best for the future, both personal and professional."

Altavilla was born in Taranto in 1963 and has a degree in Economics. He began his career at the Cattolica University of Milan, working as an assistant. In 1990 he joined Fiat Auto, in charge of international ventures developments in the field of strategic planning and product development. In 1995 he was appointed Head of the Fiat Auto office in Beijing, and in 1999 Head of the Asia Operations. He has been in charge of Business Development since 2001, and in 2002 he took over responsibility for coordinating activities related to the alliance with General Motors. In 2004 he was entrusted with the responsibility for the management of alliances.

In September 2004 he was appointed Chairman of FGP (Fiat/GM Powertrain JV) and Senior Vice President of Business Development of Fiat Auto and in July the next year he was appointed Chief Executive Officer of Tofas, a 50-50 joint venture between Fiat Auto and Koç Holding that is listed on the Istanbul stock exchange, while retaining responsibility for Business Development. In November 2006 he was named Chief Executive Officer of Fiat Powertrain Technologies and became a member of the Group Executive Council (GEC) of the Fiat Group. In July 2009 he joined the Board of Directors of Chrysler Group and in October of the same year was named Executive Vice President of Business Development of the Fiat Group.
 

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