Warrants issued for ex-Iveco duo
15th April 1993, Page 8
15th April 1993
Page 8
Page 8, 15th April 1993
— Warrants issued for ex-Iveco duo
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• Iveco was rocked last week by the issuing of arrest warrants against two of its former bosses as Italy's corruption scandal engulfed Fiat's truck division.
Milan magistrates issued warrants for Giorgio Garuzzo, chief executive of Iveco between 1984 and 1991; and Riccardo Ruggieri, managing director of Iveco's bus division over the same period.
Fiat says: "One must realise that Fiat is the tenth largest company in the world and it's business as usual."
The warrants were issued in connection with alleged illegal funding of political parties, but as CM went to press no charges had been brought. Garuzzo is now chief operating officer of the Fiat group; Ruggieri is chief executive officer of Fiat's farm machinery division, New Holland.