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Ifil proposes chair of India's Tata for Fiat board

Written by: Staff

MILAN, Apr 18 (Reuters) Fiat's biggest shareholder Ifil said on Tuesday it would propose the chairman of Tata Motors and two other candidates to sit on the automaker's board.

Italian holding company Ifil said in a statement that Ratan Tata was one of three people it would propose to replace three outgoing board members.

It said it would present its list of candidates at Fiat's annual shareholders meeting on May 3.

Fiat and Tata Motors, India's top truck producer, have a cooperation agreement that covers dealerships in India and have been exploring other areas in which to cooperate such as co-production and co-development.

Ifil, controlled by the Agnelli family, owns 30 percent of Fiat.


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