As Health Suffers, Fiat Chrysler CEO Sergio Marchionne Could Be Replaced Today

Steph Willems
by Steph Willems
as health suffers fiat chrysler ceo sergio marchionne could be replaced today

Several news agencies are reporting that Sergio Marchionne, the colorful chief executive who returned Fiat, and then a combined Fiat Chrysler, to profitability, might not end the day as CEO.

Marchionne, who took the helm of Fiat in 2004, was due to retire next April, and recently unveiled the automaker’s upcoming five-year product plan. Two sources told Reuters that Marchionne suffered “massive” complications from a recent shoulder surgery. According to those sources, the boards of Fiat Chrysler, Ferrari, and CNH Industrial are all meeting Saturday to name a successor.

The Associated Press (via Detroit Free Press) claims the surgery took place in Switzerland three weeks ago.

Though Marchionne planned to step down in early 2019 — a move timed to coincide with the elimination of FCA’s longstanding debt — the 66-year-old executive planned to stay on as head of the newly spun-off Ferrari for some time after. According to sources who spoke to Bloomberg, board member Louis Camilleri will likely take the CEO position at the Italian sports car maker, with John Elkann (heir of the controlling Agnelli family) serving as chairman.

Marchionne’s replacement at FCA will come from within the company, Elkann has already stated. Sources claim his duties will be split among several individuals, with one serving as CEO.

Among the most likely contenders for the top position are Jeep brand chief Mike Manley, CFO Richard Palmer, and FCA Europe head Alfredo Altavilla.

Since the acquisition of Chrysler by Fiat, Marchionne’s habit of plain speaking and wearing only sweaters set him apart from the industry’s polished automotive CEOs. During this time, Marchionne built Jeep into a global brand and a financial juggernaut, with the brand now valued higher than the company itself. FCA singled out Jeep, Ram, and the Alfa Romeo and Maserati brands in its latest five-year plan as the automaker’s dominant global brands, relegating Chrysler, Dodge, and Fiat to smaller, more regional duties.

[Image: Fiat Chrysler Automobiles]

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  • Geozinger Geozinger on Jul 22, 2018

    While not his biggest fan, I wish the man a swift recovery and future good health.

  • Dukeisduke Dukeisduke on Jul 23, 2018

    Wow. I'm no fan of Sergio's but this is not good news. I'm assuming he had rotator cuff surgery - several friends of mine have had it, and my sister, too, and even the best outcome includes a months-long recovery period. I'm hoping his prognosis improves, and he gets well soon.

  • SCE to AUX I charge at home 99% of the time, on a Level 2 charger I installed myself in 2012 for my Leaf. My house is 1967, 150-Amp service, gas dryer and furnace; everything else is electric with no problems. I switched from gas HW to electric HW last year, when my 18-year-old tank finally failed.I charge at a for-pay station maybe a couple times a year.I don't travel more than an hour each way in my Ioniq 1 EV, so I don't deal much with public chargers. Despite a big electric rate increase this year, my car remains ridiculously cheap to operate.
  • ToolGuy 38:25 to 45:40 -- Let's all wait around for the stupid ugly helicopter. 😉The wheels and tires are cool, as in a) carbon fiber is a structural element not decoration and b) they have some sidewall.Also like the automatic fuel adjustment (gasoline vs. ethanol).(Anyone know why it's more powerful on E85? Huh? Huh?)
  • Ja-GTI So, seems like you have to own a house before you can own a BEV.
  • Kwik_Shift Good thing for fossil fuels to keep the EVs going.
  • Carlson Fan Meh, never cared for this car because I was never a big fan of the Gen 1 Camaro. The Gen 1 Firebird looked better inside and out and you could get it with the 400.The Gen 2 for my eyes was peak Camaro as far as styling w/those sexy split bumpers! They should have modeled the 6th Gen after that.