FCA Group Profile/News - Page 8 - Dodge Nitro Forum
Chrysler/Dodge/Jeep News Find out the latest scoop here!

Reply
 
LinkBack Thread Tools Display Modes
post #71 of 72 (permalink) Old 05-02-2019, 10:49 AM Thread Starter
Super Moderator
 
rickaren's Avatar
 
Join Date: Nov 2006
Location: Indiana
Posts: 22,860
Garage
FCA Completes Sale of Magneti Marelli


FCA Completes Sale of Magneti Marelli to Calsonic Kansei


May 2, 2019 , London -

Fiat Chrysler Automobiles N.V. (“FCA”) (NYSE: FCAU/MTA: FCA) today announced the completion of the sale of its automotive components business Magneti Marelli S.p.A. to CK Holdings Co., Ltd., the holding company of Calsonic Kansei Corporation, a leading Japanese automotive component supplier. In connection with the closing, FCA received cash consideration of approximately €5.8 billion[1].

“We thank Magneti Marelli’s employees for their dedication to providing innovative products while supporting FCA business objectives,” said FCA CEO Mike Manley. “FCA remains committed to Magneti Marelli, with the new company continuing as a key supplier, and I am confident that this transaction secures a strong future for their employees and other stakeholders. This sale also recognizes the full strategic value of Magneti Marelli, improving our financial position, delivering value to our shareholders and allowing us to enhance our focus on our core product portfolio.”

FCA also announced that its Board of Directors approved today an extraordinary cash distribution to the holders of FCA common shares of €1.30 per share, corresponding to a total distribution of approximately €2 billion from the net proceeds of this transaction.

The extraordinary cash distribution calendar for both NYSE and MTA is: ex-date May 20, 2019; record date May 21, 2019; payment date May 30, 2019.

[1] Consideration adjusted based on Magneti Marelli’s estimated financial position as of the closing date, subject to final closing balance sheet.

About FCA N.V.

Fiat Chrysler Automobiles (FCA) is a global automaker that designs, engineers, manufactures and sells vehicles in a portfolio of exciting brands, including Abarth, Alfa Romeo, Chrysler, Dodge, Fiat, Fiat Professional, Jeep®, Lancia, Ram and Maserati. It also sells parts and services under the Mopar name and operates in the components and production systems sectors under the Comau and Teksid brands. FCA employs nearly 200,000 people around the globe. For more information regarding FCA, please visit www.fcagroup.com.

Rick

Nitro Year: 2007 (1 of 91,815 sold in 07)
Nitro Model: R/T 4X4 Stone White
CAT-BACK Exhaust, CAI, Projector Head Lamps
Fully-Equipped w/all factory options
rickaren is offline  
Sponsored Links
Advertisement
 
post #72 of 72 (permalink) Old 07-05-2019, 11:21 AM Thread Starter
Super Moderator
 
rickaren's Avatar
 
Join Date: Nov 2006
Location: Indiana
Posts: 22,860
Garage
FCA Names Davide Grasso Chief Operating Officer of Maserati;
Harald Wester Appointed Executive Chairman of Maserati, Expands CTO Responsibilities

07/05/2019


Fiat Chrysler Automobiles N.V. (“FCA”) (NYSE: FCAU/MTA: FCA) today announced two moves in its leadership team. Davide Grasso, former Chief Executive Officer (CEO) of NIKE’s Converse, joins FCA and is named Chief Operating Officer (COO) of Maserati. Grasso also is appointed to the Company’s Group Executive Council (GEC).

While at Converse, Grasso engineered that iconic brand for long-term sustainable growth. His previous experience includes a string of successes at NIKE, where he served in numerous leadership positions, including Chief Marketing Officer for the Nike brand.

In a related move, Harald Wester assumes the role of Executive Chairman of Maserati. In addition, his responsibilities as Chief Technical Officer (CTO) expand to include global powertrain along with global vehicle engineering for the Group.

In his expanded role, Wester will oversee all product development and engineering for the Group’s ongoing new product strategy, including the expansion of its internal combustion and hybrid/electric powertrain offerings. As Executive Chairman of Maserati, Wester maintains strategic involvement in that historic brand and will oversee all technical and industrial areas.

"With Davide’s arrival, we continue to round out FCA’s senior leadership team with world class talent,” said Mike Manley, CEO, FCA. “He brings a wealth of brand expertise to one of the most historic marques in the automotive world. Davide and Harald will build on the work that’s already underway to rejuvenate Maserati worldwide; and Davide will be a valuable advisor to the GEC on brand matters across the FCA portfolio.

"The expansion of Harald’s CTO role will further accelerate our progress in powertrain development and drive the integration of market leading technologies into our brands. Combining vehicle and powertrain engineering under one of the industry’s most respected technology leaders will streamline the delivery of our product strategies,” said Manley.

Grasso said, "Joining Maserati at such a transformational time is an extraordinary opportunity that speaks to my passion for cars, great brands and my personal Italian heritage. Working with Mike Manley, Harald Wester and the rest of the FCA team will be a privilege. I’m honored to be joining FCA at such a defining and transformative moment for the company and the industry."

Wester said, "This is a fundamental step in the growth of Maserati both for its technological development and for brand expansion and for this I’m excited to work with Davide. I’m honored to take the lead of global powertrain for the Group in this challenging period. The combined vehicle and powertrain teams will speed up the development and integration of world class propulsion systems.”

About FCA N.V.
Fiat Chrysler Automobiles (FCA) is a global automaker that designs, engineers, manufactures and sells vehicles in a portfolio of exciting brands, including Abarth, Alfa Romeo, Chrysler, Dodge, Fiat, Fiat Professional, Jeep®, Lancia, Ram and Maserati. It also sells parts and services under the Mopar name and operates in the components and production systems sectors under the Comau and Teksid brands. FCA employs nearly 200,000 people around the globe. For more information regarding FCA, please visit www.fcagroup.com.

Rick

Nitro Year: 2007 (1 of 91,815 sold in 07)
Nitro Model: R/T 4X4 Stone White
CAT-BACK Exhaust, CAI, Projector Head Lamps
Fully-Equipped w/all factory options
rickaren is offline  
Sponsored Links
Advertisement
 
Reply

  Dodge Nitro Forum > Dodge Nitro News & Polls > Chrysler/Dodge/Jeep News

Quick Reply
Message:
Options

Register Now



In order to be able to post messages on the Dodge Nitro Forum forums, you must first register.
Please enter your desired user name, your email address and other required details in the form below.

User Name:
Password
Please enter a password for your user account. Note that passwords are case-sensitive.

Password:


Confirm Password:
Email Address
Please enter a valid email address for yourself.

Email Address:
OR

Log-in











Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Show Printable Version Show Printable Version
Email this Page Email this Page
Display Modes
Linear Mode Linear Mode



Similar Threads
Thread Thread Starter Forum Replies Last Post
Fiat engines to improve Chrysler Group fuel economy ratings rickaren Chrysler/Dodge/Jeep News 0 11-10-2009 01:00 PM
Fiat to Kill-Off Nine Chrysler Group Vehicles Including Sebring, Grand Caravan Administrator Chrysler/Dodge/Jeep News 0 10-28-2009 08:24 AM
Fiat Group lost $251 million (2nd Q) rickaren Chrysler/Dodge/Jeep News 1 07-22-2009 09:05 AM
Fiat Group, Chrysler LLC and Cerberus Announce Plans for a Global Strategic Alliance rickaren Chrysler/Dodge/Jeep News 3 01-23-2009 11:50 AM
Low Profile Tires? ordoff73 Wheels, Tires, Brakes, and Suspension 0 10-07-2006 08:34 AM

Posting Rules  
You may not post new threads
You may post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On

 
For the best viewing experience please update your browser to Google Chrome