The problems of succession

摘要

Death and defection: troubles do not come singly at Fiat, Italy's struggling carmaker. On May 30th, only three days after Umberto Agnelli, the group's chairman and head of Fiat's founding family, died unexpectedly, Giuseppe Morchio, chief executive since February last year, tendered his resignation. Even as thousands of mourners filed past Mr Agnelli's coffin, Mr Morchio had been pushing his case to be chairman, and to remain chief executive as well. The family, which owns about one-third of Fiat's shares, rebuffed him and, at a hastily convened board meeting, appointed Luca di Montezemolo to the post Mr Morchio coveted. "He got above himself," said a close adviser to the Agnellis of Mr Morchio's bid for power.