FCA appoints leaders of future spinoff Comau

Breana Noble
The Detroit News

Fiat Chrysler Automobiles NV on Monday gave another sign that its merger with French automaker Groupe PSA is moving ahead by appointing the leaders of its robotics company that it will spinoff following the tie-up.

Paolo Carmassi, head of Spectris plc scientific instrumentation provider Malvern Panalytical Ltd. for the past four years, will lead Comau when it becomes a publicly listed entity apart from FCA. Comau's chairman will be Alessandro Nasi, vice chairman of Fiat parent company Exor NV who joined the automaker in 2005.

Fiat Chrysler Automobiles NV will spin off its Comau robotics business after it mergers with French automaker Groupe PSA.

FCA shares were trading up 3% in morning trading, more than market indexes.

Prior to Spectris, Carmassi held increasing leadership roles over 23 years in Honeywell International Inc.'s automotive and aerospace businesses. At Comau, he will lead 9,000 employees in industrial automation in 14 countries.

Leaders of FCA and PSA have said, despite business challenges from COVID-19, the merger is on track to close at the end of 2020 or in the first quarter of 2021.


Twitter: @BreanaCNoble