Fiat brand chief Andrea Formica has left the company where he was also head of sales, less than a year after joining from Toyota. Formica was overlooked when Fiat and Chrysler CEO Sergio Marchionne reshuffled his executive teams for both companies in July, The new structure comes into effect on 1 September.
Fiat has confirmed Formica’s departure but no reason has been given; Formica is reported to have told colleagues he was leaving in an email on 30 August.
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The July reshuffle named Olivier Francois to head the Fiat brand. Francois is already head of marketing for all of Fiat and Chrysler brands.
Fiat’s sales in Europe slipped by 12.7% in the first half of this year compared to the same period in 2010, according to ACEA. Fiat said sales responsibility will revert to Formica’s predecessor Lorenzo Sistino.
Before joining Fiat, Formica was senior vice president of sales, marketing, product planning and communication at Toyota’s European operations.
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