DEFINITION of 'Giuseppe Morchio'

An Italian executive who became CEO of Italian automaker Fiat in February 2003 and resigned in May 2004 because of his dissatisfaction with Ferrari CEO Luca di Montezemolo being appointed Fiat chairman, a post Moricho wanted for himself. Moricho came to the company at a time when it was extremely unprofitable, having faced a loss of 4.3 billion euros in 2002.


The company was also deeply in debt. Morchio began turning the company around, selling some of Fiat's assets, including Fidis and Toro Assicurazioni, as part of his strategy for returning the company to profitability and refocusing on autos. Prior to joining Fiat, Morchio worked at Pirelli for many years.

BREAKING DOWN 'Giuseppe Morchio'

Fiat, which stands for "Fabbrica Italiana Automobili Torino," or Italian Automobile Factory of Turin, was founded in 1899 in Italy. About half of the company's operations are located outside of Italy, and Fiat's cars are especially popular in Brazil.

RELATED TERMS
  1. Fiat Money

    Currency that a government has declared to be legal tender, but ...
  2. Umberto Agnelli

    A former chairman and CEO of Italian automaker Fiat and formerly ...
  3. John Elkann

    The chairman of Italian automaker Fiat. As a member of the powerful ...
  4. Herbert Demel

    A CEO who has served in numerous high-level executive positions, ...
  5. Lawful Money

    Any form of currency issued by the United States Treasury and ...
  6. Italian Derivatives Market

    A derivatives exchange headquartered in Milan, Italy. The Italian ...
Related Articles
  1. Investing

    Now, Get Paid To Hack Fiat Chrysler Automobile Systems (FCAU)

    Amid increasing security threats, Fiat joins the list of firms offering cash bounty for reporting security issues.
  2. Investing

    What is Fiat Money?

    Fiat money is currency that a government has declared to be legal tender, but is not backed by a physical commodity.
  3. Investing

    U.S. Probe sFiat Chrysler for Sales Fraud (FCAU)

    The U.S. Justice Department and the SEC are probing Fiat Chrysler on claims that it used financial incentives to reward dealers for falsified car sales data.
  4. Financial Advisor

    4 Things to Consider Before Jumping Into the Ferrari IPO (FCAU)

    Understand what is prompting the Ferrari merger and its possible success. Learn about the top four things to consider when investing in this IPO.
  5. Investing

    The Gold Standard Versus Fiat Currency

    What do "gold standard" and "fiat system" mean for currencies and economies? Investopedia explores the history of the gold standard and the rise of fiat.
  6. Financial Advisor

    The Best Sports Car for Investors (FCAU, VLKAY)

    Ferrari, perhaps the best known sports car brand in the world, filed to IPO this week, issuing common shares to investors for the first time.
  7. Investing

    Ferrari Unveils a New Hybrid Convertible

    Fuel economy is not a concept generally associated with Ferrari's (NYSE: RACE) sleek and powerful sports cars. Nevertheless, the company is continuing to expand the hybrid LaFerrari line of ...
  8. Investing

    Ferrari Stock Races Lower Despite Earnings Beat (RACE, FCAU)

    Ferrari now expects fiscal 2016 earnings to reach at least 800 million euros, 30 million euros more than its prior forecast of at least 770 million euros.
  9. Investing

    Will Nonperforming Loans Cause 'Italeave'?

    The EU's reluctance to allow Italy to bail out its precarious banks may encourage Italy to follow England out of the EU.
  10. Investing

    Top 5 Positions in Mohnish Pabrai's Portfolio (FCAU, MS)

    Learn about Mohnish Pabrai and the types of funds and philanthropies he runs. Discover the top five positions in his hedge funds.
RELATED FAQS
  1. Is fiat money more prone to inflation than commodity money?

    Learn more about commodity and fiat money and some of the differences between them. Find out when the U.S. abolished the ... Read Answer >>
  2. Is all paper money fiat money?

    Learn how the United States has converted from a gold-backed money system to a fiat one. Learn what is considered fiat money ... Read Answer >>
  3. What is the difference between fiat money and representative money?

    Learn the main differences between fiat money and representative money. Differences include actual physical currency and ... Read Answer >>
  4. What is the difference between fiat money and legal tender?

    Learn more about fiat currency and legal tender. Find out how these terms are used by economists to describe different types ... Read Answer >>
  5. Is credit a form of fiat money?

    Discover what fiat money is, learn how it developed historically into its use in most modern economies, and explore its relationship ... Read Answer >>
  6. What is the gold standard?

    The gold standard is a monetary system where a country's currency or paper money has a value directly linked to gold. With ... Read Answer >>
Hot Definitions
  1. Magna Cum Laude

    An academic level of distinction used by educational institutions to signify an academic degree which was received "with ...
  2. Cover Letter

    A written document submitted with a job application explaining the applicant's credentials and interest in the open position. ...
  3. 403(b) Plan

    A retirement plan for certain employees of public schools, tax-exempt organizations and certain ministers. Generally, retirement ...
  4. Master Of Business Administration - MBA

    A graduate degree achieved at a university or college that provides theoretical and practical training to help graduates ...
  5. Liquidity Event

    An event that allows initial investors in a company to cash out some or all of their ownership shares and is considered an ...
  6. Job Market

    A market in which employers search for employees and employees search for jobs. The job market is not a physical place as ...
Trading Center