Fiat SpA Chairman Paolo Fresco will remain at the helm of the beleaguered Italian industrial conglomerate until its annual shareholders meeting in April, when he will be forced to step down due to Fiat’s mandatory retirement age of 75. The decision was made by the company’s board of directors, which met today (Dec. 13). Fiat CEO Gabriele Galateri resigned his post Dec. 10, which (false) rumors claimed would make way for one of Fiat’s major creditor banks, Mediobanca, to install its own ...

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