Andrea Pininfarina, the head of Pininfarina, was killed last week in a crash. Guy Dinmorereports from Rome
ANDREA PININFARINA, chief executive of Italy's eponymous and financially troubled car designer, died on Thursday in a road accident near the industrial city of Turin, where the family company was founded in 1930.
Mr Pininfarina, 51, was knocked off his Vespa scooter by a car, according to Italian media reports.
Pininfarina, the company that designed some of Ferrari's and Alfa Romeo's classic models, as well as the Ford Focus, is in the process of a capital and debt restructuring. News of the chief executive's death fuelled market speculation of the family selling its majority holding and shares on the Milan bourse were suspended after rising more than 11 per cent.
The unprofitable company is in the middle of plans to raise €100m through a share offering.
Prospective investors include Vincent Bolloré, a French billionaire with whom Pininfarina has an electric car venture, and Ratan Tata, chairman of the Indian group, who was in Turin just two weeks ago.
In its heyday, Pininfarina became immortalised in film with the restyled 1953 Nash Healey roadster featuring in the Adventures of Superman television series, and the Alfa Romeo Spider driven by Dustin Hoffman in The Graduate.
Silvio Berlusconi, Italy's prime minister, paid tribute to Mr Pininfarina on Thursday.
He said Italy had lost a leading industrialist who had achieved many successes for the "made-in Italy brand". Enzo Ghigo, a senator and friend, described the loss to Turin as dramatic and lamented the fact that Mr Pininfarina had died before being able to relaunch his company.
Mr Pininfarina was the grandson of Battista "Pinin" Farina who founded the company. His younger brother Paolo is vice-chairman and his sister Lorenza is on the board.
Their father, Sergio, is a life senator who controls the family holding. Mr Pininfarina is survived by his wife, Cristina Pellion di Persano and their three children.
(Financial Times Service)