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Fiat: Fresco Remains Chairman, Barberis Is New CEO

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At a Fiat board meeting last Friday it was decided that Paolo Fresco will remain as chairman of the company, while former general director A. Barberis will become the new CEO. This was despite the fact that the Agnelli family (which owns 34 per cent of the group) and Mediobanca, the investment bank, wanted to replace Mr.

Fresco with a new chairman, Enrico Bondi. They were blocked by a combination of creditor banks and institutional shareholders..

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