MILAN Nov 12 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.