Ratan Tata joins Fiat board

Tata Motors chairman Ratan Tata has yesterday joined the board of Fiat Spa after the Italian car maker's shareholders approved of it at the annual general meeting in Turin.

Tata, along with Roland Berger and Carlo Sant'Albano, are the three new independent directors to be inducted into the Fiat Spa, with 96.40 per cent vote backing of its shareholders.

Tata's name was proposed by the Agnelli family on April 18, which controls IFIL, a company that holds 30 per cent stake in Fiat Spa.

Tata Motors and Fiat had recently signed an agreement of co-operation, which would initially see Tata Motors sell Fiat cars in India in some of its outlets.

The agreement between the two companies would also allow the two companies work together on product development at a later stage.