Altavilla relinquishes his role as CEO of Fiat Industrial's Iveco division to be replaced by Andreas Klauser, the current Case IHI boss. Klauser will become 'head of brand' at Iveco while retaining his existing Case IHI role. Outgoing Fiat COO for EMEA, veteran Gianni Coda, is retiring.

According to a statement released by Fiat S.p.A. in Turin: "Effective immediately, Alfredo Altavilla is appointed Chief Operating Officer, EMEA. Altavilla replaces Gianni Coda who is retiring after 33 years of dedicated service with various businesses within Fiat and Fiat Industrial. Altavilla will continue to coordinate Business Development activities for the Group."

Altavilla will have his work cut out to turnaround a very gloomy picture for Fiat in Europe. He will also have to develop a strategy going forward for the Middle East and Africa, two regions that are experiencing steady growth for new vehicle sales. So far Fiat/Chrysler CEO Sergio Marchionne has shown little interest in captialising on the future opportunities offered by the Middle East and Africa - or in fact most emerging markets.

"I want to express my sincere appreciation for the unwavering dedication and service to Fiat and Fiat Industrial that Gianni has exhibited over the many years with our Groups," said Marchionne is a statement. "He has shown exemplary leadership as he filled various roles across the world, and in particular, during his last eight years with me as head of Group Purchasing and more recently as Chief Operating Officer, EMEA region. The men and women of Fiat Chrysler and Fiat Industrial owe him a great debt of gratitude."

"I join Sergio Marchionne in expressing my gratitude, also on behalf of my family, for the outstanding contribution and dedication that Gianni Coda has exhibited towards the Fiat companies", added John Elkann, Chairman of Fiat S.p.A., in the statement.