Pininfarina's CEO Dies In Scooter Crash

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Andrea Pininfarina, head of the famed Carozzeria Pininfarina studio that's designed some of the sexiest cars Italy's ever produced, died this morning in a scooter accident near the Italian city of Turin. He was 51.

Pininfarina - whose grandfather, Battista "Pinin" Farina, founded the design house in 1930 - died instantly after his Vepsa collided with a Ford Fiesta in the town of Trofarello. Such was the stature of Pininfarina and the firm that bears his family name that Italian Prime Minister Silvio Berlusconi said in a statement, "I am deeply saddened. (Italy) loses a leading personality of the country's industrial life and the representative of a dynasty that did so much for the 'made in Italy' brand around the world."

Although Carozzeria Pininafarina has designed cars for just about everyone, it is perhaps most famous for its 50-year relationship with Ferrari. Luca Cordero di Montezemolo, chairman of Fiat and Ferrari, said, "Italy, Turin and the Fiat group have lost a business figure who knew how to follow and develop the work of his grandfather Pinin and his father Sergio."

News of Pininfarina's death brought speculation the financially-troubled company may soon have new owners and sent its stock skyward.

Andrea Pininfarina was leading a campaign to restructure the company - which designed such iconic cars as the the Dino 246, Alfa Romeo Duetto and Ferrari F40 - and restore profits. He reached a deal last week with creditors allowing the firm to suspend payment on more than $920 million in debts during the restructuring. The Pininfarina family controls 55 percent of the company and was planning to cut that stake to 30 percent with the sale of $155 million worth of shares to Vincent Bollore and Tata Motors Ltd. of India.

"The market is now speculating about a potential sale of the company," Italian investment manager Luca Sega told Bloomberg. Another unnamed trader told Reuters "the market thinks that ownership change will speed up." The company's stock surged so fast - up 13 percent at one point - that sales were suspended for excessive gains, Reuters reported.

Andrea Pininfarina was born June 26, 1957 in Turin - which is to Italy's auto industry as Detroit is to America's - and joined the family business in 1983 after earning a degree in mechanical engineering. He was named chief executive officer in 2001, and under his leadership the firm expanded its portfolio from high-end cars like the Ferrari Enzo to more pedestrian projects for Daewoo, Hyundai and Ford. Pininfarina is survived by his wife, Italian aristocrat Cristina Maddalena Pellion di Persano, and their three children.

R.I.P. The irony is that he was on a scooter.

The Maserati Granturismo was a beauty and hope the company stays together and design better cars in the future.

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Yup, just realised it. Mods can lock this. Sorry.