Italy’s recent political crisis could determine the Fiat-Chrysler group to move its headquarters from Italy, said CEO Sergio Marchionne.
Prime Minister Silvio Berlusconi resigned on Saturday as the country approved a package of austerity measures imposed by the European Union. Marchionne said Italy’s instability made him look to other countries for the eventual location of combined Fiat SpA and Chrysler Group LLC headquarters. “I would be lying to you if I told you it didn’t. One of the things we’re looking at is the question of stability and governability,” he told reporters at a press conference at Chrysler’s Toledo Assembly Complex on Wednesday.
“That’s not to say that the current situation would force us to move away from Italy,” Marchionne added. “That’s not the intention. We’re committed to the industrial backbone of the country,” he said. Italy’s new prime minister, Mario Monti, formed a government on Wednesday made up entirely of business leaders and diplomats to fight the current economic crisis.
“I’m confident now that with the changes that just happened today – especially at the Italian political level – that we’re going to start moving forward again. Mr. Monti has the international credibility to get traction pretty quickly,” Marchionne said. The most logical choice for Fiat-Chrysler’s HQ would be the state of Michigan, USA, where Chrysler Group LLC is based.