The largest automobile concern in Italy, Fiat SpA, has chosen its leader. Two days after the death of the head of the company, Umberto Agnelli, the board of directors decided to hand over the reins to the chairman of the board of directors of the legendary Ferrari SpA, Luca Cordero di Montezemolo. The concern pins great hopes on his arrival. After all, it was Mr. Montezemolo, who headed Ferrari 30 years ago, who made it famous thanks to its active participation in Formula 1 racing.