WHO IS SUCCEEDING MARCHIONNE?
Brit Mike Manley might seem an unusual choice to be CEO of an Italian-based car giant, but as the long-time boss of Jeep and Ram, he has been responsible for the most successful and profitable brands in Fiat Chrysler Automobiles’ portfolio.
Born in Edenbridge, the 54-year-old began his career in the car industry at Swan National, working at various dealerships before joining Lex Autosales. When that company was bought by Daimlerchrysler in 2000, he became the car firm’s director of network development.
Manley moved to the US in 2003 and took the top job at Jeep in 2009. He continued in that post following the Fiatchrysler merger and in 2015 also took over as Ram’s chief.
Under Manley’s leadership, Jeep has expanded greatly in recent years. Sales have risen from 320,000 in 2009 to a predicted 1.9 million this year.
Although FCA has already presented its next five-year plan — which Manley would have been a key figure in developing — he faces challenges implementing it. The first priority will be settling the FCA group after the sudden changes: Jeep’s Europe boss, Alfredo Altavilla, a contender to replace Marchionne, has already resigned from his position.
Jeep has also struggled for market traction in Europe — Marchionne last year described the firm’s growth in the market as “poor” — and the group faces challenges developing hybrid, electric and autonomous technology. With its global spread, FCA could also be particularly vulnerable to a Us-europe trade war.
Marchionne was also CEO and chairman of Ferrari and had intended to stay in those roles for five more years. Louis Camilleri, 63, has been appointed the firm’s new CEO. He already sits on the Ferrari board and was the chairman of tobacco firm Philip Morris, a long-time sponsor of Ferrari’s Formula 1 team.
John Elkann, grandson of former Fiat boss Gianni Agnelli and the boss of the family’s Exor investment firm, has been named as FCA’S new chairman.