Fiat's U.S. sales chief Reid Bigland who sued the company steps down

This post was originally published on this site
https://i-invdn-com.akamaized.net/trkd-images/LYNXMPEG231GN_L.jpg

(Reuters) – Fiat Chrysler Automobiles (MI:) said on Wednesday its U.S. sales chief, Reid Bigland, is leaving the company to pursue other interests.

Bigland, who has been with Fiat Chrysler for 22 years, sued the company last year, claiming it withheld 90% of his 2018 compensation because he cooperated with a regulatory probe into its sales practices.

Over a five-year period from 2012 to 2016, Fiat Chrysler’s U.S. unit used https://www.reuters.com/article/us-fiat-chrysler-sec-idUSKBN1WC1Y2 a series of fraudulent moves to falsely report new vehicle sales and tout a “streak” of uninterrupted monthly year-over-year sales growth, when it had actually ended in September 2013.

In July 2016, the company revised more than five years of monthly U.S. vehicle sales figures to reflect a new reporting method, amid an investigation by federal authorities including the U.S. Justice Department.

Bigland’s departure comes amidst Fiat’s talks with France’s Peugeot SA (PA:) for a $50 billion merger of equals that would create the world’s fourth-largest automaker.

Bigland will leave the company on April 3, Fiat Chrysler said https://media.fcanorthamerica.com/newsrelease.do?id=21632&mid=1.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Add Comment