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Alapont leaves New
Page 9
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JOSE MARIA ALAPONT has left Iveco after just 16 months as chief executive officer at the Italian truck giant—the Spaniard is to head up bankrupt automotive part specialist Federal-Mogul in the US.
His replacement is Paolo Monferino, who joins Iveco from sister company Case New Holland.
The Italian financial press has been rife with speculation recently regarding the future of Iveco and Alapont's departure has added fuel to the rumours.
Iveco's cash-strapped owner, Fiat, has been locked in negotiations with GM in a bid to sell its car division to the US car firm. lveco is believed to be trading profitably; its financial strength could make it attractive to a potential suitor and generate some welcome revenue for the Italian industrial giant.
• See Investigation, pages 28-29.