Your eyes doth not deceive you: Fiat has a new CEO. But before we get ahead of ourselves, Sergio Marchionne isn't going anywhere. The Italian-Canadian executive mastermind directing both the Fiat and Chrysler groups is not relinquishing his position. But a number of years ago, he did hand over control of the Fiat brand to a subordinate. That position has changed hands a couple of times since then, and has now been handed over to a new talent.

After years of experience in the industry, having worked for Ford and Toyota, Andrea Formica has been named CEO of the Fiat brand. And in typical Fiat style, he'll also have to juggle another portfolio in the group, directing sales for Fiat, Alfa Romeo and Lancia, as well as Chrysler's operations in Europe.

Vacating the position is Lorenzo Sistino, who moves over to head Fiat's International Operations while also running Fiat Professional, the company's commercial vehicles division. Full announcement in the press release after the jump.

[Source: Fiat]
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Andrea Formica new head of Fiat brand and Commercial. Lorenzo Sistino to head International Operations.


Andrea Formica, manager with a wealth of experience in the Automotive industry in Italy and abroad gained at Ford and Toyota, has been named head of the Fiat brand at Fiat Group Automobiles. He replaces Lorenzo Sistino who will head International Operations, keeping his current responsibility for the Fiat Professional brand.

Sistino will have the task of developing the business in the emerging markets (e.g., China, India, Russia), where Fiat Group Automobiles is expanding its presence to achieve a leading position.

Formica will also head the Commercial function, with responsibility for the sales operations of the Fiat, Alfa Romeo and Lancia brands and – in Europe – Chrysler Group LLC's brands.

Turin, 17 September 2010