Fiat's Fresco proposes U.Agnelli as new chairman

Newswire

MILAN, Feb 25 (Reuters) - Fiat Chairman Paolo Fresco said on Tuesday that he would propose on Friday that Umberto Agnelli, who heads up the family holdings that control the crisis-hit automaker, should take over as Fiat's chairman. Fresco said in a statement that he wanted to ensure a smooth handover of powers at the industrial group. Fresco had previously indicated he planned to resign later this year. Fiat shares were down four percent at 1509 GMT, slightly lower than before the ...

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