Giovedì, 20 Settembre 2018
TURIN

Tod's Della Valle slams Fiat CEO, owners for 'wrong choices'

English
© ANSA

(ANSA) - Turin, September 14 - Tod's founder Diego Della
Valle slammed managers and owners of Fiat for making "wrong
choices" the day Italy's largest carmaker announced it was
backing down from an originally announced plan called 'Fabbrica
Italia' involving boosting investments in the euro region's
third largest economy.
"Fiat's real problems are not the workers, Italy or the
economic crisis that certainly exists," said Della Valle in a
statement. "Its real problems are its shareholders and its chief
executive officer (Sergio Marchionne). They are the ones that
are making the wrong choices.
"Or worse still, they are making the choices that are most
convenient for them, without taking into consideration the
interests or the needs of the country, a country that has given
much, very much, perhaps too much to Fiat".
Fiat on Thursday night said its plans for growing its
activities in Italy have been superseded by changed economic
circumstances and a collapse in car sales that brought the local
market to 1970s levels.
The company said it was not in a position to enact
investments drawn up more than two years ago, in different
market circumstances.
When "Fabbrica Italia" was first introduced as a concept in
2010 it involved planned investments of some 20 billion euros.
The company said it would announce its new business plan in
October this year.
Fiat said it would make "responsible choices" in the
upcoming plan but unions and politicians are calling on the
government to help avert job losses.

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