AGNELLI, UMBERTO

born Nov. 1, 1934, Lausanne, Switz. Italian automotive executive and grandson of Giovanni Agnelli, the founder of Fiat SpA. After graduating from the University of Turin in law, Agnelli joined the family's automotive enterprise, Fiat. He assumed the presidency of Fiat France in 1965 and in five years doubled sales in that country. When he was made president of Fiat International, he increased Fiat sales and made the car the most popular in western Europe and doubled its sales in the United States. These successes pulled Umberto out of the shadow of his brother Giovanni, 13 years his senior and the president of the parent firm. After becoming Fiat's managing director, Agnelli instituted progressive reforms for company workers. He offered flex-time, which allowed the workers to choose their own hours within limits. He became vice-chairman of Fiat SpA in 1976 and president of Fiat Auto in 1980, resigning his post as managing director of the parent company. Besides manufacturing automobiles, the company acquired interests in banking, real estate, publishing, and insurance. Agnelli also served as a senator in Italy from 1976 to 1979.