Fiat Industrial appoints new managers
MILAN Nov 12 (Reuters) - Italy's Fiat Industrial appointed new managers as the truck and tractor maker prepares for a merger with its U.S. subsidiary CNH Global NV.
The company, which was spun off from Fiat in 2011 and is in merger talks with CNH, said in a statement on Monday it had created an executive council and four regional chief operating officer (COO) positions, all reporting to a group COO.
Richard Tobin has been appointed group COO and will also retain the role of CEO and President at CNH, the statement said.
Fiat Industrial wants to buy the 12 percent stake in CNH it does not already own through an all-paper share swap.
The plan, which aims to make the combined group's stock more attractive to investors, was rejected by a committee of advisers to the CNH board in mid-October.
- Tesla says in talks with BMW over car batteries, parts
- Exclusive: China ready to cut rates again on fears of deflation - sources
- Actor Dwight Henry eyed in New Orleans killing after arrest for theft
- China building South China Sea island big enough for airstrip: report
- Suicide bomber kills 45 at volleyball match in Afghanistan
We are living longer but not creating financial plans to keep pace. Advisers give tips on how to make sure you don’t outlive your money. Video