Contract Killer? Luca De Meo’s move from Fiat to VW may be held up by non-compete clause
Filed under: Government/Legal, Hirings/Firings/Layoffs, Volkswagen, FIAT
Luca De Meo’s appointment as chief marketing officer for the Volkswagen Group could be delayed for a while. De Meo left Fiat, where he held the posts of group chief marketing officer as well as CEO of both Alfa Romeo and Abarth, ten days ago, and was reported soon thereafter to take the VW job. We say it could be held up not because we don’t know, but because really nobody does.
The specific subject of debate is a non-compete clause in De Meo’s contract with Fiat that would, if valid, prevent him from working for another automaker for a full year. But sources differ on whether the clause stands. Some argue that it has already lapsed, while others claim it is valid. Push come to shove, CEOs Martin Winterkorn and Sergio Marchionne of the Volkswagen and Fiat groups respectively could settle the matter between themselves without the need for going to court.
[Source: Automotive News Europe - subs. req'd]
Contract Killer? Luca De Meo’s move from Fiat to VW may be held up by non-compete clause originally appeared on Autoblog on Fri, 23 Jan 2009 11:01:00 EST. Please see our terms for use of feeds.
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