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Mopar boss promoted at FCA, still runs Mopar

Fiat Chrysler Automobiles is appointing Pietro Gorlier as its new chief operating officer for components. The change in title is effective June 30 and means that he reports directly to Sergio Marchionne. He already runs Mopar globally. Gorlier is replacing Eugenio Razelli, who is leaving the automaker. Even with the new position, Gorlier continues to be the boss at Mopar and retains his seat on FCA's global executive council, which is the company's top decision-making group. This is essentially one more step up the ladder for the Turin-born executive. Gorlier became CEO of Mopar service, parts, and customer care for FCA US in 2009 and took over that role worldwide in 2011. FCA announces new appointment Fiat Chrysler Automobiles N.V. (NYSE: FCAU / MI: FCA) announced today that effective June 30, 2015, Pietro Gorlier is appointed Chief Operating Officer Components reporting directly to the Chief Executive Officer Sergio Marchionne. Mr. Gorlier will also retain his current responsibilities as Head of Parts & Service (MOPAR) and member of the Group Executive Council. Mr. Gorlier will succeed Eugenio Razelli, who elected to leave the Group after several years of dedicated service. "We extend our sincere appreciation to Eugenio for his leadership and contribution to the organization" said Sergio Marchionne. Pietro Gorlier is Head of Parts & Service (MOPAR) and a member of the Group Executive Council (GEC) since September 1, 2011. He joined the Group in 1989 in Iveco and held various positions in Logistics, After Sales, and Customer Care before joining the automobile business in 2006 in Network Development. He holds a Master of Economics from the University of Turin. London, 18 May 2015 Related Video: News Source: FCA Hirings/Firings/Layoffs Chrysler Fiat FCA fiat chrysler automobiles fca us

FCA facing class-action lawsuit over Grand Cherokee shifters

Fiat Chrysler Automobiles is now facing a multi-million-dollar class-action lawsuit over the recalled shifter design in the 2014 and 2015 Jeep Grand Cherokee, and the 2012 to 2014 Dodge Charger and Chrysler 300. Grand Cherokee owners, galvanized by Star Trek actor Anton Yelchin's fatal accident, filed the suit. According to The Wall Street Journal, the owners allege that FCA concealed the shifter's problems. On top of restitution, the class action suit is demanding a court order force FCA to issue a do-not-drive warning to owners of affected vehicles until it fixes the problem. FCA started distributing a software fix to dealers last week – according to the WSJ, the update will add more warnings about the shifter's position and will automatically kick the vehicle into park if the driver steps out. FCA's shifter problems have been bubbling under the surface as part of the company's recall issues. The US government dinged FCA with a $105 million fine last year for its recall practices (or lack thereof) last year, but things have exploded this week after Yelchin's death. The 27-year-old, best known for playing Ensign Pavel Chekov in the rebooted Star Trek film series, was killed after his 2015 Grand Cherokee rolled down his driveway and pinned the actor against a security gate. According to Jeep CEO Mike Manley, the company will dispatch engineers to analyze Yelchin's vehicle. Related Video:

Ferrari officially files SEC paperwork to register future IPO

Late last year FCA announced plans to spin off Ferrari into a separate company, and after a long wait that process has finally become official. The Prancing Horse has now filed the necessary prospectus and other documents with the Securities and Exchange Commission to hold an initial public offering on The New York Stock Exchange. The paperwork doesn't mention a specific date for the Italian sportscar maker's IPO, but it's expected sometime in October. At this point, the documents also don't include some other vital data about the IPO. Ferrari lists neither the number of shares being offered nor their price. The company also doesn't have a stock symbol yet. UBS, BofA Merrill Lynch and Santander are acting as joint book runners for the deal. As part of the IPO, FCA initially intends to sell 10 percent of Ferrari's shares on the stock market. Another 10 percent of the company still belongs to Piero Ferrari. FCA is holding onto the remaining 80 percent in the short term for financial reasons but intends to distribute them to shareholders in early 2016. After the spin-off, about 24 percent of Ferrari would be owned by Exor, 10 percent by Piero Ferrari, and 66 percent by public shareholders, according to the SEC documents. FCA boss Sergio Marchionne believes that Ferrari could be worth over $11 billion. Although, his estimate might be slightly high. According to Reuters, Wall Street is actually putting the value somewhere between $5.5 billion and $11 billion. If you're thinking about investing in the company or just want to read the nitty-gritty about the brand's financial health, the entire SEC filing can be read here. Ferrari Files for Initial Public Offering LONDON, July 23, 2015 /PRNewswire/ -- Fiat Chrysler Automobiles N.V. ("FCA") announced today that its subsidiary, New Business Netherlands N.V. (to be renamed Ferrari N.V.), has filed a registration statement on Form F-1 with the U.S. Securities and Exchange Commission ("SEC") for a proposed initial public offering of common shares currently held by FCA. The number of common shares to be offered and the price range for the proposed offering have not yet been determined, although the proposed offering is not expected to exceed 10% of the outstanding common shares. In connection with the initial public offering, Ferrari intends to apply to list its common shares on the New York Stock Exchange.