Fiat Chrysler announce new CEO after Marchionne’s serious health concerns

By sarahako ako

The Italian-Canadian executive, Sergio Marchionne, has stepped down from his position in charge of Fiat Chrysler due to serious health issues, The Globe and Mail reports.

Mr Marchionne, who helped save Chrysler from liquidation in 2009, will be replaced by the Head of Jeep and Ram brands, Michael Manley.

Chairman of Exor NV, John Elkann, said in a statement on Saturday (21 July): “I am profoundly saddened to learn of Sergio’s state of health.”

“It is a situation that was unthinkable until a few hours ago and one that leaves us with a real sense of injustice.”

The announcement comes after Mr Marchionne experienced complications following surgery.

See more:

IDC: 77% of Canadian retailers have no innovation strategy

WestJet, Delta sign transborder air travel agreement

Aecon joint venture secures $282mn Enbridge pipeline replacement contract

Mr Marchionne became well-known in the industry for helping to nurse Fiat back to financial stability in the early 2000s.

During the 2008 financial crisis, Fiat became the only contender for Chrysler following the firm’s sudden decline and took control of the company.

Mr Marchionne and his family moved to Canada when he was in his teens, having originally been born in Italy.

He attended high school in Toronto and graduated with degrees from the University of Windsor in commerce and business administration.

Mr Marchionne was scheduled to leave the company within the next year but due to uncontrollable circumstances was forced to bring the date forward.


Featured Articles

JPMorgan Chase: Committed to supporting the next generation

JPMorgan has unveiled a host of new and expanded philanthropic activities totalling US$3.5 million to support the development of apprenticeship programmes

How efficient digital ecosystems became business critical

During this unprecedented era of rapid digital transformation, establishing a well-functioning ecosystem stands to benefit both employees and customers

Mastercard: Supporting clients at a time of rapid evolution

Mastercard has announced a significant expansion of its consulting business with the launch of new practices dedicated to both AI and economics

Why Ceridian has boldly rebranded to Dayforce

Human Capital

McKinsey’s eight lessons in leadership for aspiring CEOs

Leadership & Strategy

KPMG: The biggest challenges facing global CEOs in 2023

Leadership & Strategy