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

Hot Definitions
  1. Debit Spread

    Two options with different market prices that an investor trades on the same underlying security. The higher priced option ...
  2. Leading Indicator

    A measurable economic factor that changes before the economy starts to follow a particular pattern or trend. Leading indicators ...
  3. Wage-Price Spiral

    A macroeconomic theory to explain the cause-and-effect relationship between rising wages and rising prices, or inflation. ...
  4. Accelerated Depreciation

    Any method of depreciation used for accounting or income tax purposes that allows greater deductions in the earlier years ...
  5. Call Risk

    The risk, faced by a holder of a callable bond, that a bond issuer will take advantage of the callable bond feature and redeem ...
  6. Parity Price

    When the price of an asset is directly linked to another price. Examples of parity price are: 1. Convertibles - the price ...
Trading Center