Fiat Merger With CNH Global, Round Two

Fiat Industrial has announced a new management structure aimed at making it easier to merge with its U.S. subsidiary CNH Global N.V., the agriculture equipment maker. Fiat Industrial, has created a 20-seat Group Executive Council, which will be headed by Chairman Sergio Marchionne and CNH CEO Richard Tobin in the new position of group chief operating officer.

“The new organization announced represents a key step in the integration of Fiat Industrial and CNH,” Marchionne said.

The structure, which puts emphasis on brands, geography and industrial processes, is similar to a four-region management organization adopted at carmaker Fiat last year to drive integration between Italy’s Fiat and the U.S. carmaker Chrysler, which it controls.

CNH advisers rejected the original terms of the full merger proposed last spring, but Marchionne is working to save the deal. He told analysts that it would be more expensive, without elaborating.

Fiat Industrial owns 88% of CNH.