Management, American Style At Hidebound Fiat

The Italian carmaker's new boss, after all, was Jack Welch's understudy

Shareholder value. Transparency. Customers coming first. They are commonplace concepts in Corporate America. And true, they are starting to be heard in some European executive suites. But when Paolo Fresco, named as chairman of Italian auto maker Fiat on June 22, throws them around in his very first talk to shareholders, it's a sign that a bold new era just might be beginning at one of Europe's biggest companies.

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