Some experts argued that Fiat stock would not be affected too heavily since traders had long calculated for the passing of the last members of the company's old guard.Born in 1934, Umberto Agnelli was the youngest of seven children born into a growing automobile empire.
Mr Agnelli, 69, was appointed Fiat chairman in February last year after the death of his brother, legendary Fiat chairman Gianni Agnelli. Business
Umberto Agnelli became Fiat chairman in February 2003
On May 30th, only three days after Umberto Agnelli, the group's … He died late Thursday, Fiat spokesman Raffaello Porro said. Gianni Agnelli, the industrialist credited with transforming Fiat from an obscure Italian car maker into a major force in the global automotive industry as well as other industries, was the firm's honorary chairman when he died. The BBC is not responsible for the content of external internet sites
They were wrong.Instead, he helped consolidate operations, focusing above all on the auto business.
Umberto Agnelli (1 November 1934 – 27 May 2004) was an Italian industrialist and politician. Fiat's creditor banks have an option to convert the firm's 3bn euro debt into shares next year, a move which would make them the company's biggest shareholders.
Briefly, he ventured out of the family dynasty, serving as a Christian Democrat senator from 1976-79.But further misfortune lay ahead, most tragically when Umberto's son, Giovannino, died in 1997 of a rare cancer. | The Turin-based company acknowledged last month that Agnelli was undergoing treatment for cancer but his health appeared to have taken a sudden turn for the worse.Agnelli, who was long sidelined in his family's auto empire, got his chance to take over after his elder brother Giovanni "Gianni" Agnelli died in January 2003. Many worried about the fate of the city's major employer. That death came after a dramatic decline in the company, whose stock price and market share had plummeted.In February, Umberto Agnelli spoke with delight about the company's improved financial results of late. Two of Giovanni Agnelli's grandsons have been groomed for future roles, but many believe they are still too young.Umberto's wife, Allegra, as well as his children Andrea and Anna, were with Umberto when he died in their home just outside Turin, the Apcom news agency said.
Born: 1-Nov-1934 Birthplace: Lausanne, Switzerland Died: 27-May-2004 Location of death: Turin, Italy Cause of death: Cancer - Lymphoma Remains: Buried, Cimitero d. Father: Eduardo Agnelli (Chairman of Fiat, b. He was seen as a conservative choice for the Fiat chairmanship, vacated by Paolo Frescore in a management reshuffle after Gianni Agnelli's death. Their heirs are young men in their 30s, and I wonder if they will have the fire in their belly. That appeared to bring some improvements in the company's financial health, although even Fiat executives acknowledge there is a long way to go.It was unclear who in the family might take over the reins of the company now, or if indeed that position would be held by an Agnelli at all. "What gives us a certain satisfaction is that, despite significant losses, we can still see notable improvements in the fourth quarter due to the work that's been done," he said then.However, at a shareholders' meeting three weeks ago, Agnelli was absent - highly unusual for top Fiat brass and a hint that his health was suffering.In Turin, the northern city where Fiat has long been the main industry, the news arrived on a grim foggy morning and set the place abuzz. Umberto Agnelli would have been 69 years old at the time of death or 80 years old today. |
They were wrong.Instead, he helped consolidate operations, focusing above all on the auto business.
Umberto Agnelli (1 November 1934 – 27 May 2004) was an Italian industrialist and politician. Fiat's creditor banks have an option to convert the firm's 3bn euro debt into shares next year, a move which would make them the company's biggest shareholders.
Briefly, he ventured out of the family dynasty, serving as a Christian Democrat senator from 1976-79.But further misfortune lay ahead, most tragically when Umberto's son, Giovannino, died in 1997 of a rare cancer. | The Turin-based company acknowledged last month that Agnelli was undergoing treatment for cancer but his health appeared to have taken a sudden turn for the worse.Agnelli, who was long sidelined in his family's auto empire, got his chance to take over after his elder brother Giovanni "Gianni" Agnelli died in January 2003. Many worried about the fate of the city's major employer. That death came after a dramatic decline in the company, whose stock price and market share had plummeted.In February, Umberto Agnelli spoke with delight about the company's improved financial results of late. Two of Giovanni Agnelli's grandsons have been groomed for future roles, but many believe they are still too young.Umberto's wife, Allegra, as well as his children Andrea and Anna, were with Umberto when he died in their home just outside Turin, the Apcom news agency said.
Born: 1-Nov-1934 Birthplace: Lausanne, Switzerland Died: 27-May-2004 Location of death: Turin, Italy Cause of death: Cancer - Lymphoma Remains: Buried, Cimitero d. Father: Eduardo Agnelli (Chairman of Fiat, b. He was seen as a conservative choice for the Fiat chairmanship, vacated by Paolo Frescore in a management reshuffle after Gianni Agnelli's death. Their heirs are young men in their 30s, and I wonder if they will have the fire in their belly. That appeared to bring some improvements in the company's financial health, although even Fiat executives acknowledge there is a long way to go.It was unclear who in the family might take over the reins of the company now, or if indeed that position would be held by an Agnelli at all. "What gives us a certain satisfaction is that, despite significant losses, we can still see notable improvements in the fourth quarter due to the work that's been done," he said then.However, at a shareholders' meeting three weeks ago, Agnelli was absent - highly unusual for top Fiat brass and a hint that his health was suffering.In Turin, the northern city where Fiat has long been the main industry, the news arrived on a grim foggy morning and set the place abuzz. Umberto Agnelli would have been 69 years old at the time of death or 80 years old today. |