Fiat has confirmed that chairman Luca di Montezemolo is to resign with current vice chairman John Elkman nominated for the top job tomorrow.

In a brief statement today (20 April) from Turin, the Italian automaker gave some details surrounding Montezemolo’s resignation.

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Fiat vice chairman John Elkann and the CEO, Sergio Marchionne, will also be present at the conference.

Elkman will be nominated as chairman tomorrow.

 
Montezemolo – whose decision to step down as chairman comes on the eve of the presentation of the Group’s 2010-2014 business plan – said his resignation follows completion of the assignment given to him by the core shareholder in May 2004. 

Montezemolo will remain a member of the Fiat board of directors and chairman of Ferrari.

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Fiat, which acquired a 20% stake in Chrysler Group last year, is also scheduled to report first-quarter earnings tomorrow.

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