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18 August 2020Cesare Romiti, former CEO and president of Fiat, died at the age of 97 in his home in Milan. He spent 25 years in the Turin group, from 1974 to 1998, profoundly marking its history alongside Gianni Agnelli. A protagonist of Italian capitalism, after Fiat at the top of RCS-Corriere della Sera. Romiti was one of the most powerful Italian managers.

Born in Rome on 24 June 1923, after graduating in Economics and Commercial Sciences, he joined the Bombrini Parodi Delfino Group in 1947, of which he became General Manager. In 1968, following the BPD-Snia Viscosa merger, he took on the role of Chief Financial Officer of Snia Viscosa. In 1970 he joined Alitalia as general manager and CEO and, subsequently, in 1973, he moved to Italstat with the same assignment. In 1974 he joined Fiat, later becoming its president and CEO. Arrived at the time of the energy crisis, he devoted himself first of all to the work of financial reorganization, continuing by developing the international dimension of the company and strengthening the production facilities in Italy. He helped to build several factories for FIAT including Belo Horizonte (Brazil) which is now the largest car plant in the world. It was in July 1980 when Umberto Agnelli left his operational positions in Fiat that Romiti, who has the confidence of Cuccia becomes the sole CEO of the group. And it tackles the key issue of costs by announcing the dismissal of 14,000 employees.

The clash with the unions is strong and Mirafiori is blocked by the unions for over a month. Fiat starts making profits again, launches new products, closes the Lingotto plant in 1982, increases investments, reduces employees. In 1987 it is the second Italian group after Iri. A result that bears the signature of Romiti and Vittorio Ghidella, the head of the auto sector. Then comes the Gulf War and car sales decrease, in 1990 the Fiat brand falls below 40% in Italy Romiti in 1998 as president leaves Fiat after 24 years at the top, with a severance pay of 101.50 million gross he undertook not to reveal any secrets about the group's affairs.

After leaving the Agnelli company, Romiti was president of RCS, from 1998 to 2004, and of the construction company Impregilo, from 2005 to 2007, president of the Academy of Fine Arts in Rome until July 2013. In 2003 he founded the Foundation Italy-China, in which he then holds the office of honorary president. Romiti has the medal of Cavaliere del Lavoro in 1978, the title of honorary citizen of China, the title of honorary professor of the Donghua University of Shanghai and many other awards. On 13 October 2006 in Beijing the “Chinese People's Association for Friendship with Foreign Countries ”grants him the honorary citizenship of the People's Republic of China for his commitment to strengthening bilateral Sino-Italian relations. He was awarded the title of Officer of the National Order of the French Legion d'Honneur. On 7 October 2010 he was awarded by Prime Minister Wen Jiabao on the occasion of the Year of Chinese Culture in Italy.