GERMANY: Fiat poaches Magna Steyr chief to be new CEO - report
Fiat Group has chosen Herbet Demel, the former head of VW Brazil, to replace Giancarlo Boschetti as Fiat Auto CEO, sources close to the negotiations told Automotive News Europe. Demel, 49, is currently president and CEO of Magna Steyr, in Graz, Austria, the European arm of Magna International. Fiat had been chasing former Ford Europe head Martin Leach but gave up hope that Ford would release him from a two-year non compete clause in his contract.
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