Fiat CEO Benefits by Exercising Options After Ferrari Spinoff, IPO News – Wall Street Journal

Posted: Wednesday, November 05, 2014

MILAN—Fiat Chrysler Automobiles NV’s decision to spin off the Ferrari brand was accompanied by a steep increase in the Italian auto maker’s share price, leading to a hefty payday for Chief Executive Sergio Marchionne.

Mr. Marchionne, also chairman of Ferrari, exercised soon-to-expire options for 6.25 million Fiat shares on Thursday, one day after his unexpected announcement of an IPO and spinoff of the Italian sports-car maker. He then sold those shares, grabbing 6.25 million euros more than he would have had he exercised…

Comments

Write a Reply or Comment:

Your email address will not be published.*