Personnel Articles , , , ,

Exit strategy: Despite the sudden departure of Fiat Chrysler Automobiles (FCA) CEO Sergio Marchionne due to ill health, the car-making giant has already announced Jeep and Ram head Mike Manley as his successor.

POOR health has forced Fiat Chrysler Automobiles (FCA) chief executive officer Sergio Marchionne to retire over the weekend, with Jeep and Ram head Mike Manley stepping up to lead the car-making conglomerate.

Mr Marchionne, aged 66, is in a Zurich hospital where his condition is described as “gravely ill” after an operation on his shoulder in June resulted in complications. Neither FCA nor associates have announced the exact cause of his illness.

He took the reins of Fiat in 2004, turning the company back to profitability in just two years, before the Italian brand took ownership of Chrysler in 2009 after the American car-maker filed for bankruptcy amid the global financial crisis.

The car-makers were merged in 2014 to form FCA, with brands including Alfa Romeo, Jeep, Dodge, Maserati and Ram also falling under Mr Marchionne’s purview.

In 2016, Mr Marchionne also added Ferrari CEO to his credentials, a role which he yielded to Louis Camilleri, former cigarette and tobacco conglomerate Phillip Morris International CEO.

FCA chairman, and grandson of former Fiat head Gianni Agnelli, John Elkann has also been appointed Ferrari chairman, and said in a statement over the weekend that Mr Marchionne’s health quickly deteriorated.

“I am profoundly saddened to learn of Sergio’s state of health,” he said. “It is a situation that was unthinkable until a few hours ago, and one that leaves us all with a real sense of injustice.

Mike Manley

“Over the past 14 years together we have lived through successes and difficulties, internal and external crises, but also unique and unrepeatable moments, both personal and professional.

“Sergio has always made a difference wherever his work took him and in the lives of so very many people.

“Today, that difference can be seen in the culture that he introduced in all the companies he has led, a culture that has become an integral part of each and every one of them.”

Mr Elkann also said the changeover of management will ensure a sense of steadiness across all brands.

“The succession plans we have just announced, even if not without pain from a personal point of view, mean we can guarantee the maximum possible continuity, preserving our companies’ unique cultures.”

Mr Marchionne’s ill health accelerated his original plan of retiring in April next year, as Mr Manley, aged 54, takes the reins of FCA after nearly 10 years as Jeep CEO in which the SUV specialist has increased its global sales by more than 400 per cent.

Prior to heading up Jeep and Ram brands, Mr Manley was the chief operating officer for the Asia Pacific region, with oversight of the Australian market. Before that he led product planning and sales for markets outside of North America.

Mr Manley joined DaimlerChrysler United Kingdom in 2000 as director of network development.

FCA’s five-year business plan was already laid bare in June by Mr Marchionne, with the company focusing on growing Alfa Romeo, Jeep, Ram and Maserati with new models and electrified powertrains.

By Neil Dowling

Manheim
Gumtree
Manheim
Manheim
Gumtree
AdTorque Edge
DealerCell
MotorOne
PitcherPartners
Schmick