Marchionne Passes Away
We are saddened to hear about the passing of Sergio Marchionne, CEO of FIAT Chrysler Automobiles (FCA) and Ferrari. Marchionne was severely ill following complications arising from a recent surgery that rendered him unable to continue to work and the group sought replacements a few days before his passing.
A number of changes have resulted, with Mike Manley, the former head of Jeep, now at the helm as CEO of FCA. John Elkann, the chosen heir of his grandfather, Gianni Agnelli, in control of FIAT, taking over as Chairman of Ferrari, while Louis C Camilleri has been appointed as Chief Executive Officer of Ferrari.
Marchionne took over as the CEO of the FIAT Group in 2004 and was instrumental in the alliance with a then struggling Chrysler in 2009, a move that ended up as a merger, FCA, in 2014. The resurgence of Chrysler is vastly attributed to him, as they went from the doldrums to post profits within two years, eventually turning into the seventh largest automobile manufacturer in the world.