Cesare Romiti
Champion of capitalism who steered Fiat through years of turbulence
Cesare Romiti, industrialist. Born: 24 June, 1923 in Rome. Died: 18 August, 2020 in Rome aged 97.
Cesare Romiti, an industrialist and champion of Italian capitalism who steered Fiat through years of strikes and domestic terrorism in the 1970s and 1980s, has died at the age of 97
For many years, Romiti served as right-hand aide to Giovanni Agnelli, the jet-setting chieftain of the family dynasty that had founded the car maker in 1900 and would develop it into the nation’s largest private employer.
In 1974, during the global oil crisis that rocked the car industry, Romiti joined Fiat, going on to become CEO and eventually chairman.
Just after becoming CEO in 1980, he helped break a weeks-long strike by factory workers with a march of some 40,000 Fiat managers and other white-collar workers through Turin, Fiat headquarters’ town, demanding the right to work. The strike was triggered by Fiat’s plans to fire 14,000 workers.
Romiti was born in Rome on June 24, 1923, the son of an Italian postal worker who was fired because he opposed Benito Mussolini’s fascist regime. In interviews, Romiti recalled growing up poor, recounting how once he stole a bagful of flour from a deposit of flour during the Nazi occupation of Rome in the 1940s.
“That flour was welcomed like manna at home,” Romiti recalled.
He took a university degree in economics, and went on to hold executive posts in several Italian and foreign companies, including as CEO of Alitalia,
Italy’s flagship airline, in the early 1970s.
Romiti helped Fiat launch new car models and close the historic Lingotto factory in Turin to put the company solidly on the path to profits. He left the company, as chairman, in 1998. By then, Fiat’s market share in Italy had dropped below 40 per cent as foreign brands gained in popularity with consumers.
With an industrialist’s keen sense of trends, he anticipated the growing economic influence of China in global markets, establishing in 2003 the Italy-china Foundation. In 2006, he received honorary citizenship from China for his efforts to strengthen ties between the countries.