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Fiat Heir Arrested, Charged with Faking Own Kidnapping

Fashion designer and entrepreneur faces January trial.

by on Nov.29, 2016

Lapo Elkann is the grandson of the late Gianni Agnelli and brother of FCA Chairman John Elkann.

Italian fashion designer and industrial heir Lapo Elkann has been arrested by New York police for allegedly faking his own kidnapping.

The 39-year-old reportedly ran out of money, according to initial news reports, possibly due to involvement with an escort. Authorities were called to a housing complex on New York’s East Side after being told Elkann was being held against his will. They subsequently determined the claim was false.

News Now!

Lapo Elkann is the brother of John Elkann, currently the chairman of Fiat Chrysler Automobiles. He is the grandson of the late Giovanni Agnelli, who turned his family’s holdings into one of Italy’s most powerful industrial enterprises after World War II. That included Fiat SpA, the automaker that took control of Chrysler after the American firm’s 2010 bankruptcy.

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Is Fiat Chrysler Looking for a Merger Partner?

Deal may occur before CEO Marchionne’s ’19 retirement.

by on Apr.14, 2015

FCA CEO Marchionne appears interested in pulling off another major deal before his 2019 retirement.

Senior officials at Fiat Chrysler Automobiles are sending out signals that they’d like to find another partner, barely a year after the trans-Atlantic alliance was officially completed. Such a deal could be come together – if a willing partner can be found – before CEO Sergio Marchionne’s planned retirement in 2019, according to various sources.

Marchionne has made a number of comments in recent months underscoring his desire to address fundamental problems that could limit FCA’s ability to compete in an increasingly competitive global auto industry.

We Have a Deal for You!

Now, FCA Chairman John Elkann has weighed in. While he didn’t specifically say his company was on the prowl, Elkann wrote shareholders at Exor, which owns 29.2% of FCA, “I’m convinced that the industry needs and will see more consolidation in the future.”

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Fiat Chrysler Earnings Hold Steady as Maker Prepares to Spin Off Ferrari

Investors quickly warm to news.

by on Oct.29, 2014

Sergio Marchionne may have reason to smile as investors finally begin bidding up FCA stock.

Now officially merged, Fiat Chrysler Automobiles said its third-quarter earnings were roughly in line with last year’s numbers.

Though that was essentially what analysts had anticipated, the automaker delivered a surprise by announcing it will spin off its iconic Ferrari brand – just months after CEO Sergio Marchionne appeared to indicate such a move wasn’t in the works.

You've Earned It!

The decision “will preserve the cherished Italian heritage” of Ferrari, said a statement from FCA Chairman John Elkann. Ferrari has been facing a fair bit of turmoil lately after the ouster of its long-time chief executive and its unexpectedly poor performance in the popular Formula One racing series.

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