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Martin Leach may be new Fiat head

Milan, Sept. 5 (Bloomberg): Fiat chairman Umberto Agnelli has said the company is considering Martin Leach, who quit as president of Ford Motor Co's European unit, as the next chief executive officer of its car business. “Leach is one of the possibilities,'' Agnelli told journalists at a business conference in Cernobbio, Italy.

Fiat auto chief executive officer Giancarlo Boschetti plans to retire in the third quarter of 2004 at 65 years and the Turin, Italy-based company is looking for a replacement. Fiat's chief executive officer Giuseppe Morchio is cutting costs and selling assets outside the main business of making cars and trucks as he seeks to reverse two consecutive years of losses.

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