Antonio Cesare Ferrara steps down as Fiat Serbia CEO on March 1 – report

By bne IntelliNews February 27, 2014

Antonio Cesare Ferrara will step down from the top management post at Fiat Automobili Srbije (FAS) and return to Italy where he will continue working on other Fiat projects, daily Danas reported, quoting unnamed sources.

According to the report, Ferrara will be replaced by Silvia Vernetti, who is currently a manager at Fiat’s headquarters in Torino.

Ferrara arrived in FAS in the second half of 2011 with two main tasks – to complete the construction of a new EUR 1bn factory and launch in it the production of the new 500L model. He was successful in both. The new plant started production in December 2011 and is considered one of the most up-to-date Fiat plants in the world.

The serial production of the 500L model, on the other hand, started in July 2012. The output gradually increased as most of it goes for sales to the US and Western Europe. The robust exports of Fiat 500L helped improve the overall economic environment in Serbia, improving the current account balance and supporting GDP growth of 2.5% last year.

Ferrara’s departure from FAS is considered a sign the Serbian unit has matured enough to continue operating successfully without the need of strong Italian supervision. FAS is a 67/33 joint venture of Fiat and the Serbian government.

Related Articles

Overlooked carbon costs spell financial trouble for Western Balkan coal power plants

Ten coal-fired power plant projects across the Western Balkans are facing serious financial problems as they have not taken properly into account carbon costs, according to ... more

PMs of Serbia and Kosovo clash at Western Balkan summit ceremonial dinner

Serbian Prime Minister Aleksandar Vucic reportedly confronted his Kosovan counterpart at the ceremonial dinner during the Western Balkan Summit, over Pristina’s decision to re-register ... more

US puts Albania, Bosnia and Serbia on blacklist of major money laundering countries

The US department of state has included Albania, Bosnia & Herzegovina and Serbia in its latest list of major ... more

Register here to continue reading this article and 2 more for free or purchase 12 months full website access including the bne Magazine for just $119/year.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

Thank you. Please complete your registration by confirming your email address.
A confirmation email has been sent to the email address you provided.

To continue viewing our content you need to complete the registration process.

Please look for an email that was sent to with the subject line "Confirmation bne IntelliNews access". This email will have instructions on how to complete registration process. Please check in your "Junk" folder in case this communication was misdirected in your email system.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

If you have any questions please contact us at sales@intellinews.com

Subscribe to bne IntelliNews website and magazine

Subscribe to bne IntelliNews website and monthly magazine, the leading source of business, economic and financial news and commentary in emerging markets.

Your subscription includes:
  • Full access to the bne content daily news and features on the website
  • Newsletters direct to your mailbox
  • Print and digital subscription to the monthly bne magazine
  • Digital subscription to the weekly bne newspaper

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

bne IntelliNews
$119 per year

All prices are in US dollars net of applicable taxes.

If you have any questions please contact us at sales@intellinews.com

Register for free to read bne IntelliNews Magazine. You'll receive a free digital subscription.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

Thank you. Please complete your registration by confirming your email address.
A confirmation email has been sent to the email address you provided.

IntelliNews Pro offers daily news updates delivered to your inbox and in-depth data reports.
Get the emerging markets newswire that financial professionals trust.

"No day starts for my team without IntelliNews Pro" — UBS

Thank-you for requesting an IntelliNews Pro trial. Our team will be in contact with you shortly.

Dismiss