Fiat SpA and Chrysler Group LLC will move one step closer toward their planned merger next week, when Sergio Marchionne, the CEO of both companies, is expected to announce major management changes.Both companies are scheduled to report their second-quarter earnings on July 26. Marchionne plans to use the occasion to name global leaders for 25 key functions, including areas such as manufacturing, engineering, purchasing and quality, according to a source close to the situation.
The executives will be responsible for those functions at both Fiat and Chrysler worldwide. Today, these positions are mirrored at both companies.
Italy's Fiat began running bankrupt Chrysler in 2009, as part of a deal brokered by the Obama administration. When the Auburn Hills automaker emerged from Chapter 11 bankruptcy, Marchionne moved to increase Fiat's stake in the company. Fiat now owns 46 percent of Chrysler — a controlling stake in the company.
That will increase to 51 percent later this year, and Marchionne has signaled his intent to raise Fiat's stake even higher than that.
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