Fiat boss dies

Umberto Agnelli, the boss of Fiat, has died at the age of 69. Agnelli was suffering from cancer. Agnelli took over from his brother Gianni Agnelli who died at the start of last year. The news will come as a further blow to the company which is currently being rebuilt by chief executive Giuseppe Morchio. It is not yet clear who will take up the reins at the top of Fiat but there are indications that they may need more time to develop and that there will be an interim chairman before another family member takes over the business.

Fiat is the ultimately holding company of the Ferrari F1 team but its active involvement in the team is minimal, although the Agnelli family has long been keen on keeping Ferrari as part of the business.

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