Giuseppe Morchio

AAA

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.

INVESTOPEDIA EXPLAINS '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. Herbert Demel

    A CEO who has served in numerous high-level executive positions, ...
  2. John Elkann

    The chairman of Italian automaker Fiat. As a member of the powerful ...
  3. Chairman

    An executive elected by a company's board of directors that is ...
  4. C-Suite

    A widely-used slang term used to collectively refer to a corporation's ...
  5. Chief Executive Officer - CEO

    The highest ranking executive in a company whose main responsibilities ...
  6. Chief Operating Officer - COO

    The senior manager who is responsible for managing the company's ...
Related Articles
  1. CEO Savvy And Stock's Success Go Hand ...
    Personal Finance

    CEO Savvy And Stock's Success Go Hand ...

  2. When Insiders Buy, Should Investors ...
    Options & Futures

    When Insiders Buy, Should Investors ...

  3. Top 9 Questions Investors Should Ask ...
    Investing

    Top 9 Questions Investors Should Ask ...

  4. Reining In CEO Rewards
    Options & Futures

    Reining In CEO Rewards

comments powered by Disqus
Hot Definitions
  1. Correlation

    In the world of finance, a statistical measure of how two securities move in relation to each other. Correlations are used ...
  2. Letter Of Credit

    A letter from a bank guaranteeing that a buyer's payment to a seller will be received on time and for the correct amount. ...
  3. Due Diligence - DD

    1. An investigation or audit of a potential investment. Due diligence serves to confirm all material facts in regards to ...
  4. Certificate Of Deposit - CD

    A savings certificate entitling the bearer to receive interest. A CD bears a maturity date, a specified fixed interest rate ...
  5. Days Sales Of Inventory - DSI

    A financial measure of a company's performance that gives investors an idea of how long it takes a company to turn its inventory ...
  6. Accounts Payable - AP

    An accounting entry that represents an entity's obligation to pay off a short-term debt to its creditors. The accounts payable ...
Trading Center