Fiat’s CEO back in the U.S., facing April 30 deadline to partner with Chrysler
Fiat’s CEO Sergio Marchionne is back in the U.S. for the third time as pressure builds to seal a proposed partnership with Chrysler LLC before the end of April. Marchionne will be stopping by Detroit and Washington to meet with Chrysler bosses and the auto task force in efforts to get unions and bondholders to agree to the partnership with the Italian automaker.
Source familiar with Marchionne’s trip said that Fiat’s CEO will not be going to Canada, where the CAW has invited him to take part in their talks with Chrysler. Earlier this month, Marchionne threatened to abandon the deal if the CAW keeps resisting from dropping worker wages.
Marchionne will return to Italy ahead of the release of Fiat’s first-quarter results on Thursday.
– By: Omar Rana
Source: Reuters
