WRAPUP 1-Fiat names new CEO, gets cash for Ferrari stake

Newswire

(Combines stories, adds fund manager, background) By Jane Barrett MILAN, June 27 (Reuters) - Struggling Italian carmaker Fiat on Thursday named a new CEO renowned for his financial savvy and agreed to sell a chunk of prized sports car unit Ferrari as it tried to claw itself out of debts and mounting losses. A day after Fiat's debt was downgraded by ratings agency Moody's to just one notch above "junk," new Chief Executive Gabriele Galateri said he was confident one of Italy's most ...

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