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Umberto Agnelli, the chairman of the Italian industrial giant Fiat Group, has died from cancer at his home in Turin, according to Italian police. Umberto Agnelli became Fiat chairman in February 2003 08 Mar 04 Umberto's older brother, Giovanni, increasingly took a frontseat at Fiat.Giovanni Agnelli's stylish, jet-setting playboy lifestyle set trends and arguably made him the most-imitated man in the nation. They were wrong.Instead, he helped consolidate operations, focusing above all on the auto business.
24 Jan 03 24 Jan 03 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.
The young man, who passed away at 33, had been groomed to take over Fiat.Already in the 1990s, Fiat's slide had begun, with less help from the government and tough competition from international automakers. Prior to becoming Fiat chairman, Mr Agnelli had been head of his family's holding companies, IFI and IFIL, the firm's main shareholders. He had also previously served in a variety of roles within the Fiat organisation, including a long stint as chief executive of Fiat Auto during the 1980s. "The market reaction was not yet clear early Friday. His illness had prevented him from attending Fiat's AGM on 11 May.
Umberto Agnelli (1 November 1934 – 27 May 2004) was an Italian industrialist and politician. Business | Business Fiat Auto's other main owners include US car giant General Motors, which holds a 10% stake. By the previous year, the share price of Fiat's auto unit had lost about 80 percent of its value since a high in 1998.Many speculated that Umberto would be more willing to relinquish the automaker, to finally move the Agnellis out of the auto business. Umberto Agnelli Birthday and Date of Death. Two weeks ago, Fiat said losses for the first three months of 2004 came in at 158m euros ($187m; £106m), down from 342m euros during the same period last year. Born in 1934, Umberto Agnelli was the youngest of seven children born into a growing automobile empire. Marella Agnelli, the widow of Fiat tycoon Gianni Agnelli and a 20th-century symbol of elegance and beauty, died Feb. 23 at her family home in Turin, in Italy’s northern Piedmont region. Business
He died late Thursday, Fiat spokesman Raffaello Porro said. At age 22, he was named chairman of the team and was tied to it until his death.He took major roles in Fiat itself over the years, but nonetheless remained in his elder brother's shadow. "In relation to his brother, he lived in his shadow," said newsagent Giuseppe Proveri. He also outshone the younger Umberto, who always was a more retiring character.Umberto studied law and occupied his free time with the family's soccer club, Juventus, which is Italy's most successful team. 24 Jan 03 He was married to Allegra Caracciolo di Castagneto and Antonella Bechi Piaggio. Business 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. Mr Agnelli had adopted a strategy of nursing Fiat's core car business back to health, but the group remains under pressure to put the auto unit up for sale. Umberto Agnelli was born on November 1, 1934 and died on May 27, 2004. Their heirs are young men in their 30s, and I wonder if they will have the fire in their belly.
On May 30th, only three days after Umberto Agnelli, the group's … In 2000, Fiat struck a deal with General Motors Corp., selling 20 percent of its auto operations to the Detroit-based automaker with an option to sell the remaining share by 2005.In January 2003, when Giovanni Agnelli died, the family met immediately and named Umberto to take over, as Fiat faced its gravest crisis since its founding in 1899. | "This is the end," cafe owner Lucio Manfrinato said morosely. Mr Agnelli, 69, was appointed Fiat chairman in February last year after the death of his brother, legendary Fiat chairman Gianni Agnelli. |
The loss of Umberto Agnelli could loosen the Agnelli dynasty's grip on the industrial empire it founded more than 100 years ago.
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