Sergio Marchionne, Former Fiat Chrysler CEO, Has Died at 66

Fiat boss Marchionne dies aged 66

Fiat boss Marchionne dies aged 66

Former Chrysler CEO Bob Nardelli and Benchmark Managing Partner Kevin Kelly on the passing of former Fiat Chrysler CEO Sergio Marchionne.

Former Fiat Chrysler CEO Sergio Marchionne, who rescued the Italian and US companies and built them into the world's seventh-largest carmaker, has died, the news breaking moments before the group reported a heavy fall in profit on Wednesday.

Marchionne, who was Italian and Canadian, had revived Fiat by 2009 when he was picked by the US government to save USA -based Chrysler from its trip through bankruptcy protection after being owned by a private equity company.

Despite the setbacks, FCA reiterated 2022 goals set out by Marchionne in his last investor presentation on June 1, including a doubling of operating profit and a 9 billion-euro plan to catch up with rivals in hybrid and electric cars.

Of course, under Marchionne's time atop FCA, he also worked to relaunch the Fiat and Alfa Romeo brands in the United States while also rebuilding the Maserati brand.

Our thoughts and prayers are with Marchionne's family during these troubled times. Our deepest condolences to his family and friends.

Once the mystery of "who will replace Sergio" was solved, the focus turned back to the ailing industry leader.

White House press corps shows unity after reporter barred
Olivier Knox, president of the White House Correspondents Association (WHCA), denounced the White House decision. US President Donald Trump has regularly dismissed CNN as " fake news " during his time in the White House .

Tariffs were partly to blame for lowered full-year forecasts by General Motors Co (GM.N) and Fiat Chrysler Automobiles NV (FCA) (FCHA.MI)(FCAU.N), pummeling the stocks of both automakers on Wednesday as investors feared escalating trade disputes would hurt margins and sales.

Despite his other commitments Marchionne had a close involvement with the Formula 1 programme, and was behind the decision to replace team principal Marco Mattiacci with Maurizio Arrivabene just two months later. "I think we all agree Sergio Marchionne will be remembered for his many contributions to the industry".

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. Que vc esteja em um ótimo lugar Sergio!

Cape Town - Former Ferrari boss Sergio Marchionne has passed away after a brief illness.

Red Bull Racing called him "a great competitor on and off track". We have a lost a huge supporter of our sport, a fierce competitor, an ally and a friend.

Marchionne was frequently interviewed by Autocar and we, like the rest of the vehicle industry, will greatly miss him. "My family and I will be forever grateful for what he has done", said Elkann, who also is chairman and CEO of Exor.

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