An Agnelli family member will again chair Fiat group, most likely by summer.
Several sources confirm Luca Cordero di Montezemolo will be freed from the position of Fiat group chairman that he added to other duties in May, after the death of Umberto Agnelli.
Fiat Vice Chairman John P. Elkann, 28, is expected to be appointed chairman shortly after the Fiat annual meeting in May 2005.
Elkann is the grandson of Umberto's older brother Gianni Agnelli. His brief career has been a whirlwind experience, even for the scion of a family that owns 30 percent of Fiat. During university, Elkann held summer jobs at various Fiat group operations in Italy, UK, Poland and France.
Then he worked for General Electric in Tokyo, Atlanta, Dublin, Barcelona and Paris. In 2002, he joined IFIL, an Agnelli financial holding.
Last June after Elkann's elevation to vice chairman of Fiat, Montezemolo said: "John has had a lot of learning experiences inside the group. My aim is to develop him professionally."
It seems Elkann's learning curve will be completed within a year of this prophetic statement.