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MASERATI IN THE NEWS

2/21/05 Karl Heinz Kalbfell appointed CEO Maserati and Head of Alfa Romeo-Maserati

Karl Heinz Kalbfell, Chief Operating Officer of Alfa Romeo, is also to be nominated Chief Executive Officer of Maserati, replacing Martin Leach who is leaving the Company. With this additional role, Karl Heinz Kalbfell will assume responsibility for the Alfa Romeo-Maserati “sports car pôle” announced last week. This will allow the two marques to achieve important industrial and commercial synergies. Furthermore, Giuseppe Bonollo is to be nominated Head of Product Portfolio Management, charged with developing the Fiat and Lancia ranges. Frank Stephenson will be nominated Head of the Fiat, Lancia and Commercial Vehicle Styling Centre. Both Giuseppe Bonollo and Frank Stephenson, who transfer from Ferrari, will report directly to CEO Sergio Marchionne.

2/21/05 Martin Leach is Leaving the Company

Maserati announce that Chief Executive Officer Martin Leach is leaving the company with immediate effect. Martin Leach said: “I immensely enjoyed the period spent in Maserati. Maserati is a great company and it is ready to begin a new development phase. I wish the whole team in Maserati and in Ferrari, all the best.” Maserati would like to thank Martin Leach for the substantial contribution he made, preparing the company for the next development phase and wishes him all the best for the future.

2/18/05
Sergio Marchionne to Assume Role of CEO, Fiat Auto

Sergio Marchionne, Fiat Group CEO, is assuming the role of CEO, Fiat Auto, replacing Herbert Demel who is leaving the company.

"Today's decision to take direct responsibility of Fiat Auto," said Sergio Marchionne, "is aimed at concentrating Fiat Group's efforts on the recovery and re-launch of Fiat Auto.

"The agreement reached with General Motors saw Fiat's rights confirmed and represents a fundamental step in Fiat Auto's future.

"It is now possible to operate in total autonomy, without constraints but also without alibis. We must dedicate ourselves completely to the fundamentals of an automobile manufacturer: products, sales network and customer services.

"In Fiat Auto and Fiat SpA," continued Mr. Marchionne, "a profound cultural transformation is underway following a management reorganisation that has delivered a more agile and efficient structure. A structure based on accountability and speed of decision-making processes. This is bringing and will continue to bring greater cost-reduction and operational benefits, contributing to a recovery in the competitivity of our assets.

"Of all Fiat Group sectors, Fiat Auto must be the principal focus of our attention. Other sectors are working well and intensively in order to achieve the objectives we have set for ourselves. The first results are already tangible. In fact, all sectors closed 2004 with better than expected results. Group break-even for 2004 is achievable.

"I wish to thank Herbert Demel for the work he has carried out with ability and dedication. I wish him well for the future."

News courtesy of Maserati Media Center.