Fiat Chrysler CEO Sergio Marchionne’s health crisis forced succession scramble

Fiat Chrysler CEO Sergio Marchionne Falls Ill Mike Manley Named Successor

Fiat Chrysler CEO Sergio Marchionne Falls Ill Mike Manley Named Successor

On Saturday, Fiat Chrysler named Jeep division head Mike Manley as CEO at the world's seventh-largest vehicle maker, saying the Briton would execute a new mid-term strategy that Marchionne had outlined in June.

"We are deeply saddened by the passing of Sergio Marchionne", he added. Regarded as a saviour of Fiat, Italy's automotive champion, the Italian-born Marchionne set in motion the marriage between Fiat and bankrupt USA rival Chrysler just over a decade ago.

Sergio Marchionne was divorced.

However, in February that year, Marchionne sparked controversy when he commented that loans to Chrysler from the United States and Canadian governments had been made at "shyster rates", a comment deemed to carry antisemitic connotations.

Under his direction and guidance, the automaker became debt free and was considered a profitable company once again.

Sergio Marchionne, who led Fiat Chrysler to prosperity in the face of a stubborn recession and a host of other challenges, has died.

He has yet to be confirmed by FCA's shareholders, but in order to keep the company running, FCA's board of directors granted Manley all the powers of CEO effective immediately.

Donald Trump's Hollywood Walk of Fame star destroyed by pickaxe-wielding man
The star, which Trump received in 2007 for his role on NBC's " The Apprentice ", was defaced with spray paint in 2016. The man later turned himself in at Beverly Hills police headquarters and was turned over to Los Angeles police.

When it was announced that Marchionne's failing health would force him to step aside, John Elkann, the heir to legendary Fiat boss Gianni Agnelli issued a statement about the man he called "a mentor and above all a true friend".

Last week FCA replaced Marchionne as CEO with Mike Manley, saying Marchionne's condition had worsened.

Having joined Fiat in 2004, he was instrumental in Ferrari's return to championship contenders.

Mr Marchionne was seen as the driving force behind Fiat-Chrysler's growth. FCA is a culture of leaders and employees that were born out of adversity and who operate without sheet music, ' Marchionne explained during the presentation. The Italian-Canadian leaves behind a remarkable legacy that includes leading the automaker's dramatic turnaround from the brink of bankruptcy.

-Bill Ford, executive chairman, Ford Motor Co.

Marchionne was a powerful advocate for the automaker's Italian cars and brands, and said he would not restructure the company to leave a "stump" company in Italy that could not survive. Our thoughts are with Manuela, and his sons Alessio and Tyler.

Recommended News

  • Trump Looking To Meet Putin In 2019

    Trump Looking To Meet Putin In 2019

    In doing so he created a problem because he exposed his partner to fierce criticism in the United States". Ushakov said the two sides had not yet started work on organising the Washington meeting.
    Smallville Star Allison Mack Faces More Charges For Role in Sex Cult

    Smallville Star Allison Mack Faces More Charges For Role in Sex Cult

    Women were also expected to be subservient to "masters", prosecutors said, including giving in to demands for sex. Bronfman is a daughter of the late billionaire philanthropist and former Seagram chairman Edgar Bronfman Sr.
    Vast Lake Of Liquid Water Discovered On Mars

    Vast Lake Of Liquid Water Discovered On Mars

    Even if this new discovery is validated, experts are lukewarm about whether this body of water would be suitable for life. Orosei and colleagues used a radar instrument called MARSIS aboard the Mars Express spacecraft to make their discovery.
  • Paul Ryan Dismisses President Trump's Security Clearance Revocation Threat As 'Trolling'

    Paul Ryan Dismisses President Trump's Security Clearance Revocation Threat As 'Trolling'

    Hayden tweeted on Monday (Tuesday NZT) that revoking his security clearance wouldn't "have any effect on what I say or write ". A decision to strip a former official of a security clearance would prove a striking use of presidential power.
    Facebook to launch its own internet satellite 'Athena' by next year

    Facebook to launch its own internet satellite 'Athena' by next year

    They are calling this satellite " Athena ", and the company is not saying anything much so far other than confirming it. In the 2018 messages, Facebook reps refer to a "small satellite experimental application for the Athena satellite".

    Researchers spot what looks like a standing ‘lake’ of water on Mars

    Until now, we knew that water exists in ice around the planet , as well as that there are signs of liquid water on the surface . This is a significant development, as it appears to confirm that water - albeit briny - is flowing today on the surface of Mars.
  • Max Verstappen keeps Red Bull on top in Germany

    Max Verstappen keeps Red Bull on top in Germany

    "Both Ferrari and Red Bull were very quick today and I think it will be very similar tomorrow and on Sunday". Max Verstappen was third on the timesheets, a further 0.189s behind his teammate Ricciardo.
    Graphic novel features on Man Booker Prize longlist for the first time

    Graphic novel features on Man Booker Prize longlist for the first time

    The Castletroy resident and University of Limerick creative writing lecturer is one of 13 authors in contention for the prize. The Canadian's seventh novel, Warlight , is on a list featuring four debut works and four authors under the age of 30.
    Ivanka Trump Is Closing Her Fashion Brand

    Ivanka Trump Is Closing Her Fashion Brand

    It only got worse when she didn't immediately resign her position with the company after accepting a position in the White House . A spokesperson for the Ivanka Trump brand said the decision to close the company is not related to the brand's performance.
  • Klopp up for FIFA Best Men's Coach of the Year award

    Klopp up for FIFA Best Men's Coach of the Year award

    Manchester City manager Pep Guardiola and Liverpool's Jurgen Klopp join Southgate on the shortlist for the coach award. Barcelona's first team coach Ernesto Valverde has been named as one of candidates in FIFA's "The Best" Coach category.
    China says there will be 'no winner' in global trade war

    China says there will be 'no winner' in global trade war

    Chinese President Xi Jinping has pledged to invest almost 15 billion dollars on his state visit ahead of the BRICS summit today. Trade wars should be rejected because there will be "no winner" from such actions, Chinese President Xi Jinping said.
    #BRICS: SA signs $14 billion trade agreements with China

    #BRICS: SA signs $14 billion trade agreements with China

    The rand climbed as much as 1.2 percent against the dollar and was 0.9 percent higher at 13.3447 at 2:30 p.m.in Johannesburg. We need to build closer high-level engagement".

We are pleased to provide this opportunity to share information, experiences and observations about what's in the news.
Some of the comments may be reprinted elsewhere in the site or in the newspaper.
Thank you for taking the time to offer your thoughts.