■ Fiat Chrysler chooses Jeep exec Mike Manley to replace its ailing CEO.

Longtime leader Marchionne stepping aside after surgery

ROME — Jeep executive Mike Manley will be the new CEO of Fiat Chrysler Automobile after longtime leader Sergio Marchionne’s health suddenly deteriorated after surgery, the company announced Saturday.

Marchionne, a 66-year-old Italian-Canadian, joined Fiat in 2004 and led the Turin-based company’s merger with bankrupt U.S. carmaker Chrysler. Manley, 54, had been heading the Jeep brand since June 2009 and the Ram brand from October 2015 and has been with the company since 2000.

The announcement, at the end of an emergency board meeting Saturday, marked the end of the Marchionne era, which included the turnaround of failing Fiat, the takeover of bankrupt U.S. automaker Chrysler and the spinoffs of the heavy machinery and truck maker CNH and supercar maker Ferrari.

Marchionne, who is also a lawyer, was holding multiple leadership roles in the companies, notably as CEO of FCA — Fiat Chrysler Automobiles, as well as CEO and chairman of Ferrari.

Fiat Chrysler said in a statement that due to his health Marchionne “will be unable to return to work.”

Marchionne had already announced he would step down from FCA in early 2019, so the board’s decision, to be confirmed at an upcoming shareholders’ meeting, will “accelerate” the CEO transition process, the statement said.

Ferrari announced that Louis Camilleri, an Egypt-born Maltese and longtime executive at tobacco company Philip Morris International, would replace Marchionne as CEO of the sports car maker.

The England-born Manley had been one of Marchionne’s closest collaborators at Fiat Chrysler Automobiles, and in a previous role had been responsible for product planning and all sales activities outside of North America.

Manley took over management of the Jeep brand in 2009, just after Chrysler emerged from bankruptcy protection. At the time, the all-SUV Jeep mainly was a U.S. brand, where annual sales languished at around 232,000. By 2017, though, sales had nearly quadrupled to more than 828,000 as Americans snapped up all-wheel-drive SUVs.

The brand also grew internationally, especially in China, under Manley.

Marchionne put Manley in charge of the Ram brand as well as Jeep in 2015. Much of Fiat Chrysler’s profits come from the Ram pickup, especially in the U.S.

FCA didn’t give details about Marchionne’s medical condition, which was reported to be surgery for a shoulder problem three weeks ago. But questions arose after it appeared his recovery was taking longer than expected.

Mike Manley