Giuseppe Morchio

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. Markets

    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. Markets

    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. Markets

    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. Markets

    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. Trading

    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. Personal Finance

    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. Markets

    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. Markets

    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. Managing Wealth

    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.
  10. Markets

    Global Economics: Is Italy the Next Greece?

    Find out whether or not the Italian economy is poised to become the next Greece, and why much depends on the political will of Italy's leaders.
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. Duration

    A measure of the sensitivity of the price (the value of principal) of a fixed-income investment to a change in interest rates. ...
  2. Dove

    An economic policy advisor who promotes monetary policies that involve the maintenance of low interest rates, believing that ...
  3. Cyclical Stock

    An equity security whose price is affected by ups and downs in the overall economy. Cyclical stocks typically relate to companies ...
  4. Front Running

    The unethical practice of a broker trading an equity based on information from the analyst department before his or her clients ...
  5. After-Hours Trading - AHT

    Trading after regular trading hours on the major exchanges. The increasing popularity of electronic communication networks ...
  6. Omnibus Account

    An account between two futures merchants (brokers). It involves the transaction of individual accounts which are combined ...
Trading Center