Even the most industrious executive cannot be in three places at once, but his employer might well be. A number of multinationals have recently opted to split their legal, fiscal and other personalities between various countries. The latest to do so is Fiat. Now that the Italian carmaker is set to gain full control of Chrysler, it is to leave Italy, on paper at least, after 115 years. Its board recently voted to move the parent's legal domicile to the Netherlands, its tax residence to Britain and its main stock-market listing to New York. This copies a template Fiat used when its tractor unit was merged with an American rival and spun off as cnh Industrial.
展开▼
