Fiat CEO Sergio Marchionne said that the company does not plan to move its headquarters to the US.
“This issue, treated several times in the last year by the world’s media, is not the order of the day as the Chief Executive of Fiat, Sergio Marchionne has recently reiterated,” a Fiat spokesman said in a statement.
Still, on April 29th, during a conference, Marchionne said that the company formed after Chrysler’s and Fiat’s merger will have its headquarters in the region which has “the adequacy of capital markets (necessary to) support our operations going forward”, adding that “Europe is becoming a less and less relevant fact in the scheme of things”.
“Italy in 2012 represented 10 percent of the overall sales of this (Fiat) Group,” said Marchionne. “And I think it’s a stark reality for someone who has been a Fiat aficionado all his life. This is a different house. It looks at the world in a completely different way.”
Therefore, many expected the headquarters of the newly-formed company to be located in Auburn Hills and also be listed on the New York Stock Exchange. Since it was created, Fist has its headquarters in Turin, Italy, a region which is now in the second consecutive year of recession.