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

Russia keeps Serbia waiting for promised MIGs

Russia plans to deliver six used MIG 29 aircraft to Serbia by end-2017, Russia’s Federal Service for Military-Technical Cooperation (FSMTC) Director Dmitry Shugaev said on July 19, Sputnik ... more

Fiat workers end 3-week strike that halted production at Serbia's top exporter

Production at the Fiat Chrysler Automobiles (FCA) Srbija factory in Kragujevac will restart on July 19 after workers and Prime Minister Ana Brnabic agreed on the evening of July 18 to end ... more

Evolution Equity Partners closes $125mn cybersecurity-focused fund

Evolution Equity Partners announced on 17 July the final closing of a new fund with total capital commitments of $125mn to make investments in cybersecurity and next generation enterprise software ... more

Dismiss