Once the merger he plans for Fiat and Chrysler goes through, Sergio Marchionne says that Fiat-Chrysler could be registered as a corporation in the Netherlands, not Italy or the United States. Marchionne wants to have the combined company’s primary stock listing on the New York Stock Exchange and rules for corporate governance in the Netherlands are similar to those in the States.
Tag: Sergio Marchionnne
Every time Sergio Marchionne makes the headlines, I half expect him to announce that he is not merely a mild-mannered accountant with a fondness for frump, but a mighty superhero, born to rescue failing automakers and the American and Italian ways of life. Having scored a sizable stake a bankruptcy-rinsed Chrysler for no money down, Marchionne has been ruling his Italian and American empires with resolute authority… and 50 direct reports. But Automotive News [sub] isn’t reporting that Marchionne spends his spare time in tights and a cape fighting Russian bandits and Italian labor unions… the word is that Sergio Marchionne is ready to delegate some authority. According to AN’s sources, Marchionne’s plans includes three basic planks:
- Create four regions — Europe, North America, Latin America and Asia-Pacific — each with a regional boss.
- Require brand bosses, who are powerful in the current organization, to work closely with the new regional bosses.
- Establish a new layer of management, tentatively dubbed the steering committee, that would help run Fiat and Chrysler.
But is this new structure really going to end what AN terms “the one-man Sergio show,” a routine of 18-hour days and “catching catnaps on the plane as he flies constantly between Turin and Detroit”? Will it really “help overworked Chrysler executives catch their breath and adopt a saner work rhythm,” as AN puts it? That question remains to be answered…