Chief of GPWC steps down from Fiat

Fiat chief executive Paolo Cantarella has reportedly been sacked from the company, which could mean trouble for the Grand Prix World Championship (GPWC). The GPWC breakaway group is comprised of manufacturers who plan to run a rival championship...

Fiat chief executive Paolo Cantarella has reportedly been sacked from the company, which could mean trouble for the Grand Prix World Championship (GPWC). The GPWC breakaway group is comprised of manufacturers who plan to run a rival championship to F1 and Cantarella was their chief executive.

Canatarella stood down from his position after a meeting with Fiat vice-chairman Paolo Fresco and Giovanni Agnelli who is the biggest shareholder and head of Fiat's founding family. Cantarella took the brunt of the blame after Fiat registered losses of a reported £275million last year.

"After having thought long and hard about the current complex difficulties of Fiat Group and in particular Fiat Auto, I have felt it necessary to send a signal of a clean break," Cantarella said.

GPWC were made up of Fiat (Ferrari), Ford (Jaguar), Renault, BMW (Williams) and Mercedes (McLaren) and the group is now without a chief executive. Cantarella was a key negotiator in the talks between Bernie Ecclestone and German media company Kirch in regards to the rights of F1's commercial revenue.

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About this article
Series Automotive , Formula 1
Drivers Bernie Ecclestone
Teams Williams