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.October 15, 2003
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This Week:

• Chrysler Group President Dieter Zetsche Launches Production of All-New 2004 Dodge Durango at Newark Assembly Plant

• Honda Introduces Breakthrough Fuel Cell Stack that Operates at Below Freezing Temperatures

• BMW Z4 roadster: After a successful launch, refinements for its second model year

• Ford, Mazda Announce 21 Billion Baht (US$500 Million) Investment In Thailland

• Herbert Demel Appointed CEO Of Fiat Auto

• Mercedes-Benz Expands Its Market Position in North America and Asia in First Three Quarters of 2003

• General Motors is rewarded by the Asian American Advertising Federation as the Marketer of the year for its quality marketing efforts to the Asian American Community

• MINI Cooper Most Appealing Compact Car For Second Year In A Row

• Philippines To Become Ford's Asean Export Hub

• DaimlerChrysler fuel cell Sprinter to be field-tested by UPS

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Herbert Demel Appointed CEO Of Fiat Auto
 

Turin - Herbert Demel has been appointed Chief Executive Officer of Fiat Auto, effective November 15, 2003. Fiat thanks Giancarlo Boschetti, who will leave the Group on the same date, for the intense work he performed in almost forty years of activity at top management levels, and expresses its best wishes for his future.

Herbert Demel Photo: Fiat

Since the end of 2002, Mr. Demel has been President and Chief Executive Officer of Magna Steyr, a leading company in automotive engineering, two- and four-wheel-drive transmissions and in the development and assembling of automobiles for third parties. Demel, born in Vienna 50 years ago, has a degree in mechanical engineering and vast professional experience in the automotive sector at an international level. From 1984 to 1990 he was responsible for the development of ABS applications and quality control at Robert Bosch.

He has spent twelve years of his career with the Volkswagen-Audi Group: from 1990 on he was Head of Product Development at Audi, and from 1994 to 1997 he was Chief Executive Officer of this company.

In 1997 he took over the post of Chief Executive Officer of Volkswagen do Brasil, a position he held until the end of 2002.

Mr. Demel's appointment is part of the Group's strategy to renew its managerial structure by ensuring that the wealth of talent available within the Group be complemented by new professional skills.

(October 8, 2003)