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Paolo Pininfarina elected Chairman at Pininfarina SpA

Paolo Pininfarina has been unanimously elected to become Chairman of the Board of Directors at Pininfarina S.p.A., one of the roles previously occupied by his late brother Andrea Pininfarina. The Board of Directors agreed to assign authority over the Group's design operations and Pininfarina Extra to Paolo Pininfarina and also elected to hand over the Group's communications to his sister Lorenza Pininfarina, the Provisional Deputy Chairperson. There has been much speculation about the company's future following the untimely death of CEO Andrea Pininfarina in a traffic accident last week.

Pininfarina family to lose control of company

The Pininfarina family is set to lose its controlling share stake in the company as it takes a step closer to restructuring its €76 million net debt. The Italian design firm, founded in 1930, has been plagued with debt in recent years, shutting its manufacturing branch in 2011 to concentrate purely on design, ending a joint venture with Volvo that saw the company assemble Volvo's C70. The move is seen as a positive one for the company in the long-term, making it more financially secure for future developments, but it also means that the Pininfarina family will lose control of the company by selling its 77 percent share.

Maserati GranTurismo Sport (2012) first official pictures

This is the new Maserati GranTurismo Sport, a more powerful and more aggressively styled version of the Trident’s big GT that will be unveiled at the Geneva motor show in March 2012. How is the Maserati GranTurismo Sport different from all Maserati’s other GranTurismo models? The GranTurismo Sport effectively replaces the GranTurismo S, and sits one rung below the hardcore GranTurismo MC Stradale.