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.

Read in IntelliNews Pro
Get IntelliNews Pro

Related Articles

Chinese investors interested in ex-military airport in Serbia’s Uzice

Companies from China are interested in investing in Ponikve Airport in the western Serbian town of Uzice, according to the local authorities, which have proposed an acquisition or a public-private ... more

Serbia to raise public sector wages and pensions in 2018

Pensions and wages of workers in Serbia’s public sector will be increased by 5%-20% as of 2018, Prime Minister Ana Brnabic announced on October 14 when she marked the first 100 days ... more

Serbia’s central bank cuts key policy rate to 3.5%

The National Bank of Serbia (NBS) executive board decided to cut the key policy rate to 3.5% on October 9, folowing cut to 3.75% on September 7, after keeping it stable at 4% for the ... more

Most Read

  1. Moldova's Ascom moves ahead with recovering $500mn from Kazakh state
    7 days ago
  2. INTERVIEW: The quiet thunder of Ruben Vardanian
    9 days ago
  3. INTERVIEW: de Villepin says Ukraine should declare itself neutral
    9 days ago
  4. KRUK REPORT: Is Ukraine changing its Donbas policies?
    4 days ago
  5. MOSCOW BLOG: Russia’s import substitution has not been a great success
    7 days ago
  1. STOLYPIN: Russia balances wargames with mindgames in Zapad exercises
    27 days ago
  2. Russia to bring in record breaking harvest of 127mn tonnes
    18 days ago
  3. Investors ask which Russian bank domino will be the next to topple
    24 days ago
  4. Eastern Europe’s blockchain revolution
    12 days ago
  5. INTERVIEW: de Villepin says Ukraine should declare itself neutral
    9 days ago

Selected articles from our premium news/views wire IntelliNews Pro

Login to IntelliNews Pro
Get IntelliNews Pro

Reports

Dismiss