All In The Family

Within days of the death in late May of Umberto Agnelli, the patriarch of one of Italy's leading business families, Giuseppe Morchio made his move. As mourners paid their last respects, the chief executive of the Fiat auto and truck company that is the core of the Agnelli family fortune demanded to be given Umberto's title of chairman as well.

To the family, it seemed like a blatant power grab, and when its members replied, "No, grazie," he quit in a huff. The top job went instead to Luca Cordero di Montezemolo, the head of Ferrari and a...

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