Sergio Marchionne
Fiat Chrysler Automobiles (FCA) CEO Sergio Marchionne has died, aged 66. Marchionne on the weekend stepped down from his position at the auto manufacturer, one year before he was scheduled to retire.
He fell gravely ill following complications while recovering from shoulder surgery.
In total, the hard-working Machionne spent 14 years at the head of Italian brand Fiat.
He added bankrupt US car maker Chrysler to the Fiat stable in 2009. He is widely credited with turning around both struggling auto brands.
The merged FCA made its debut on the New York Stock Exchange in 2014. Shortly afterward, the company announced a spinoff of sportscar brand Ferrari.
Ferrari began trading in New York in 2015.
FCA is headquartered in London and includes 14 brands, including Alfa Romeo, Chrysler, Dodge, Fiat, Maserati, Jeep and Ram.
At the end of 2017, it had 159 plants in more than 40 countries throughout Europe, North and South America, India and China, 236 000 employees and $130-billion in net revenues on sales of 4.7-million vehicles.
Upon his resignation, Marchionne was immediately replaced by 54-year-old Michael Manley, who led the recent expansion of the Jeep brand.